Japan imposes a tariff on imported rice. In Japan, surplus will be redistributed from
A) consumers to producers and government.
B) consumers to producers.
C) consumers to government.
D) government to producers.
A
Economics
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In the above figure, if the market price rises from $100 to $125 per ton of wheat, then producer surplus
A) decreases. B) does not change. C) increases. D) might increase, decrease, or not change depending on how the demand curve for wheat shifts.
Economics
Refer to Table 13-4. At Victoria's profit-maximizing output
A) total revenue equals $24 and total cost equals $20. B) profit equals $2. C) total revenue equals $21 and total cost equals $17. D) total revenue equals $25 and total cost equals $22.
Economics