Refer to the figure above, which shows domestic supply and demand. If P1 is equal to P2 (the world price) plus a tariff, then government revenue from the tariff is equal to
A) a + c
B) b
C) P1 ( Q3 - Q2 )
D) P2 [(Q2 - Q1 ) + (Q4 - Q3 )]
E) a + b + c
B
Economics
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How is the wage rate determined when a union faces a monopsony?
What will be an ideal response?
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