The Effects of a Tariff Are

Multiple Choice

The effects of a tariff are

A) reduced quantity supplied overall, reduced quantity supplied by domestic producers, and a lower price.
B) reduced quantity supplied overall, increased quantity supplied by domestic producers, and a higher price.
C) reduced quantity supplied overall, decreased quantity supplied by domestic producers, and a lower price.
D) identical to the effects of a quota, except that the price of the good is higher.