Refer to the information provided in Figure 33.4 below to answer the question(s) that follow. Figure 33.4
-Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.
A) export
B) import
C) tariff
D) total

Question

Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.  Figure 33.4
-Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, ________ revenue in this country will be $500.
A) export 
B) import 
C) tariff 
D) total

Quizplus · Accepted Answer

The tariff revenue is calculated by multiplying the tariff per unit ($5) by the number of imported units (100), resulting in $500.

Refer to the Information Provided in Figure 33