Author Question: Refer to Figure 9.8. A 50 tariff would result in domestic consumption of A) 600, domestic ... (Read 93 times)

KimWrice · **on:** Jul 1, 2018

Refer to Figure 9.8. A 50 tariff would result in domestic consumption of

A) 600, domestic production of 100, and imports of 500.
B) 500, domestic production of 200, and imports of 300.
C) 400, domestic production of 300, and imports of 100.
D) 300, domestic production of 400, and exports of 100.
E) 200, domestic production of 500, and exports of 300.

Question 2

Refer to Scenario 7.3. What is the total cost of producing 200 units of output?

A) 100
B) 1000
C) 1500
D) 2000
E) none of the above