The U.S. government currently imposes a 0.54 per gallon tariff on ...

[arivle123]

The U.S. government currently imposes a 0.54 per gallon tariff on all ethanol imported into the country. If this tariff were removed, then:
 
  A) the domestic ethanol price falls.
  B) the domestic quantity of ethanol supplied declines.
  C) domestic consumer surplus increases.
  D) domestic producer surplus decreases.
  E) all of the above

Question 2

The textbook for your class was not produced in a perfectly competitive industry because
 
  A) there are so few firms in the industry that market shares are not small, and firms' decisions have an impact on market price.
  B) upper-division microeconomics texts are not all alike.
  C) it is not costless to enter or exit the textbook industry.
  D) of all of the above reasons.

[Jsherida]

Answer to Question 1

E

Answer to Question 2

D

[arivle123]

Excellent

[diana chang]

TYSM