FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose a per-unit tariff of $10 is imposed on imported cell phones. After the tariff: - The quantity demanded is 10 million - The quantity

image text in transcribed
Suppose a per-unit tariff of $10 is imposed on imported cell phones. After the tariff: - The quantity demanded is 10 million - The quantity supplied domestically is 2 million Calculate the amount of tax revenue collected due to the tariff. O $80 million $100 million O $2 million $102 million

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Change And Natural Disasters Transforming Economies And Policies For A Sustainable Future

Climate Change And Natural Disasters Transforming Economies And Policies For A Sustainable Future

Authors: Vinod Thomas

1st Edition

1351527916, 9781351527910

More Books

Students also viewed these Economics questions

Question

★★★★★
What is the monetary rule and why do the monetarists favor it?

Answered: 1 week ago

Question

★★★★★
A certain company makes televisions, stereo units, and speakers. Its parts inventory includes chassis, picture tubes, speaker cones, power supplies, and electronics. The inventory, required...

Answered: 1 week ago

Question

★★★★★
=+e) To check for significant differences between the shelf means, we can use a Bonferroni test, whose results are shown here. For each pair of shelves, the difference is shown along with its...

Answered: 1 week ago

Question

★★★★★
A cross-flow heat exchanger used in a cardio-pulmonary bypass procedure cools blood flowing at 5 liter/min from a body temperature of 37C to 25C in order to induce body hypothermia, which reduces...

Answered: 1 week ago

Question

★★★★★
undefined Carla Vista Corporation reported net income of $495,000 in 2020 and had 600.000 common shares outstanding throughout the year. On May 1, 2020, Carla Vista issued 5% convertible bonds. Each...

Answered: 1 week ago

Question

★★★★★
8) (10 points) You are determined to retire in 35 years. You found an account paying 3.5% interest. a) How much should you deposit every three months if you want to have 4,321,432 in the account? b)...

Answered: 1 week ago

Question

★★★★★
Choose a product and discuss its full lifecycle (Steps 1-5). Indicate where it is in the life cycle currently. When do you predict the life cycle will end? Why do you think it will end?

Answered: 1 week ago

Question

★★★★★
A) she been presented with the option to take a lump sum payment of $ 750,000 today or payment in the amount $75,000 over next ten years. Assume 3% interest rate. which preferred option based the...

Answered: 1 week ago

Question

★★★★★
Suppose commercial bank uses an Altman's Z-score model to predict business loan applicants' default probabilities. The Altman's Z-score model is specified as follows: Z = 1.2X + 1.4X2 + 3.3X3 + 0.6X4...

Answered: 1 week ago

Question

★★★★★
Please help answer the following: Consider a non-union organization that you, a friend or family member has worked for in the past or one you're familiar with. Now that you have an understanding of...

Answered: 1 week ago

Question

★★★★★
We know the following data for Albert's fabricating production area: Number of machines = 5 Number of working days in year 340 Processing time per unit = 60 minutes a. What is the annual capacity...

Answered: 1 week ago

Question

★★★★★
16. Now put the areas you have ranked in order of priority and reflect on which values they correspond to in your value hierarchy.

Answered: 1 week ago

Question

★★★★★
14. Now reconcile what you answered to problem 15 with problem 13.

Answered: 1 week ago

Question

★★★★★
11. In what environment or contexts is it the value you want others to associate you with that the value can best be expressed in? Do you seek out these contexts to learn?

Answered: 1 week ago

Previous Question Next Question