Solved

-The Above Figure Shows the Market for Rice in Japan

Question 106

Multiple Choice

-The above figure shows the market for rice in Japan where price is expressed in dollars.S represents the domestic supply curve,and the horizontal line at P = 1 represents the world supply curve.Suppose a free market exists.If a $1 per unit tariff is imposed on imported rice,the quantity of imported rice will decrease by A) Q<sub>1</sub> units. B) Q<sub>2</sub> - Q<sub>1</sub> units. C) Q<sub>2</sub> units. D) Q<sub>1</sub> - Q<sub>2</sub> units.
-The above figure shows the market for rice in Japan where price is expressed in dollars.S represents the domestic supply curve,and the horizontal line at P = 1 represents the world supply curve.Suppose a free market exists.If a $1 per unit tariff is imposed on imported rice,the quantity of imported rice will decrease by


A) Q1 units.
B) Q2 - Q1 units.
C) Q2 units.
D) Q1 - Q2 units.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q101: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q102: The welfare loss of a tariff equals

Q103: A competitive market maximizes social welfare because

Q104: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q105: In a competitive market,the demand and supply

Q107: Even if two competitive firms in the

Q108: If lower-income households spend a greater share

Q109: Producer surplus is the sum of the

Q110: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q111: If a market produces a level of