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Author Question: Suppose the U.S. government imposes a $0.75 per pound tariff on coffee imports. Figure ... (Read 83 times)

mrsjacobs44

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Figure 7-2








Suppose the U.S. government imposes a $0.75 per pound tariff on coffee imports. Figure 7-2 shows the impact of this tariff.  






Refer to Figure 7-2. If the tariff was replaced by a quota which limited coffee imports to 20 million pounds, the amount of revenue received by coffee importers would equal


◦ $5 million.
◦ $15 million.
◦ $50 million.
◦ $78 million.


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Marked as best answer by mrsjacobs44 on Mar 16, 2019

Brummell1998

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