In the figure above, the tariff ________ U.S. imports of shirts ...

[lb_gilbert]

In the figure above, the tariff ________ U.S. imports of shirts by ________ million shirts per year.
 
  A) decreases; 16
  B) decreases; 8
  C) increases; 8
  D) increases; 4

Question 2

Producer surplus is the
 
  A) cost of the good summed over the quantity sold.
  B) demand for a good minus the supply summed over the quantity sold.
  C) price of a good minus the marginal cost of producing it summed over the quantity sold.
  D) marginal cost of producing it summed over the quantity sold.

[macagn]

Answer to Question 1

A

Answer to Question 2

C

[lb_gilbert]

Correct answers!

[macagn]

Great! Please up vote