Country A imports 1,000 cars per month. After imposing a $50 per car tariff, imports fall to 800 cars per month. How much does Country A's government collect in tariff revenue?
A) $40,000 B) $90,000 C) $10,000 D) $60,000 E) $50,000
A
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Hyperinflation typically ________
A) describes periods of extreme price increases of over 50% per month or 1,000% per year B) is a result of extreme periods of money growth that tend to come from large fiscal imbalances C) affects both poor and developed economies D) all of the above E) none of the above
Which of the following does not happen when new firms enter a monopolistically competitive industry? a. The demand curve for each of the existing firms will fall
b. The demand curve for each of the existing firms will move inward. c. The demand curve for each of the existing firms will becomes relatively more elastic. d. The demand curve for each of the existing firms will shift to the right.