Given the Information on Prices, Production, and Consumption in Question

Multiple Choice

Given the information on prices, production, and consumption in Question #15 above, and assuming that demand and supply curves are straight lines, the impact of the imposition of the tariff is that tariff revenue of the government increases by __________. Further, the "net welfare effect" of the imposition of the tariff is a __________.

A) $72; loss of $44
B) $72; gain of $64
C) $180; loss of $44
D) $180; gain of $64