Refer to Figure 9-3. With a quota in place, what is the quantity consumed in the domestic market?

The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________

A) ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns B) AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output C) AVC; always declining because costs are divided across ever-increasing amounts of output D) MC; U-shaped because explicit costs exceed implicit costs E) ATC; U-shaped because output increases as costs increase

Refer to Figure 9-5. The tariff revenue collected by the government equals

A) $10 million. B) $15 million. C) $19.875 million. D) $35 million.