The United States has imposed taxes on some imported goods that have been sold here by foreign countries at below their cost of production. These taxes
a. benefit the United States as a whole, because they generate revenue for the government. In addition, because the goods are priced below cost, the taxes do not harm domestic consumers.
b. benefit the United States as a whole, because they generate revenue for the government and increase producer surplus.
c. harm the United States as a whole, because they reduce consumer surplus by an amount that exceeds the gain in producer surplus and government revenue.
d. harm the United States as a whole, because they reduce producer surplus by an amount that exceeds the gain in consumer surplus and government revenue.
c
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The table above shows the demand and total cost schedule for a monopolist hotel. What price should the monopolist charge if it is a single-price monopoly that maximizes its profit?
A) $171 B) $161 C) $151 D) $141
Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Lizzie Haxem hires "The Paint Pros," a professional painting company, to paint her home
A) K and G B) K and M C) J and G D) J and M