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Refer to the Graph Shown for a Small Country That

Question 59

Multiple Choice

Refer to the graph shown for a small country that is a price taker internationally. Refer to the graph shown for a small country that is a price taker internationally. Assume the foreign supply of this product is perfectly elastic at a price of $4 per unit. If government imposes a tariff in the amount of $2 per unit, it will collect revenue in the amount of: A) $0. B) $2,400. C) $5,000. D) $10,000. Assume the foreign supply of this product is perfectly elastic at a price of $4 per unit. If government imposes a tariff in the amount of $2 per unit, it will collect revenue in the amount of:


A) $0.
B) $2,400.
C) $5,000.
D) $10,000.

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