Multiple Choice
-Refer to the diagram above,where S and D are the domestic supply and demand curves for a product.The world price of the product is $6.If the economy is open to international trade but a tariff of $4 per unit is imposed,then the total revenue going to domestic producers would be ________,the total revenue (after tariff) going to foreign producers would be ________,and the tariff revenue going to the government would be ________.
A) $400;$120;$80
B) $240;$240;$80
C) $400;$240;$80
D) $240;$120;$120
E) $260;$140;$160
Correct Answer:

Verified
Correct Answer:
Verified
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