Multiple Choice
The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set. 
What is the value of the total welfare losses that Guatemala will suffer as a result of the 100% tariff on imported TVs?
A) $270,000
B) $360,000
C) $540,000
D) $720,000
Correct Answer:
Verified
Correct Answer:
Verified
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