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-The Above Figure Shows the Market for Rice in Japan

Question 45

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.The smallest tariff necessary to completely eliminate imported rice is A) $0.50 per unit. B) $1.00 per unit. C) $1.50 per unit. D) $2.00 per unit.
-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.The smallest tariff necessary to completely eliminate imported rice is


A) $0.50 per unit.
B) $1.00 per unit.
C) $1.50 per unit.
D) $2.00 per unit.

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