Solved

Refer to the Information Provided in Figure 4

Question 2

Multiple Choice

Refer to the information provided in Figure 4.5 below to answer the question(s) that follow. Refer to the information provided in Figure 4.5 below to answer the question(s)  that follow.   Figure 4.5 -Refer to Figure 4.5. If the United States eliminates all tariffs on CD-Rom drives, which of the following would occur? A)  The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 3 million CD-Rom drives. B)  The price of CD-Rom drives in the United States would be $25 per CD-Rom drive, and the United States would import 3 million CD-Rom drives. C)  The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives. D)  The price of CD-Rom drives in the United States after the U.S. government eliminated all tariffs on imported CD-Rom drives cannot be determined from this information. Figure 4.5
-Refer to Figure 4.5. If the United States eliminates all tariffs on CD-Rom drives, which of the following would occur?


A) The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 3 million CD-Rom drives.
B) The price of CD-Rom drives in the United States would be $25 per CD-Rom drive, and the United States would import 3 million CD-Rom drives.
C) The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives.
D) The price of CD-Rom drives in the United States after the U.S. government eliminated all tariffs on imported CD-Rom drives cannot be determined from this information.

Correct Answer:

verifed

Verified

Related Questions