Multiple Choice
Refer to the information provided in Figure 19.5 below to answer the questions that follow.
Figure 19.5
-Refer to Figure 19.5.The domestic price of oil is $130 per barrel,and the world price of oil is $120 per barrel.If the domestic government imposes a tariff of $________ per barrel,it will eliminate all oil imports and achieve tariff revenues of $________.
A) 10; zero
B) 5; 20 million
C) 5; 45 million
D) 10; 120 million
Correct Answer:

Verified
Correct Answer:
Verified
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