Question
The table below gives the domestic demand and supply schedules. Suppose the world price for a good is 40$ and the governemnt imposes a 20$
The table below gives the domestic demand and supply schedules. Suppose the world price for a good is 40$ and the governemnt imposes a 20$ per unit tarriff. How much will the government collect as tarriff. And can someone please explain to me how you get the answer, because I am totally lost. A. 360 B. 80 C. 240 D. 320
Price (Dollars Per Unit) | Quanity Demanded (Units per day) | Quanity Supplied (Units per day) ..................40 ................................ ................22.......................................................14
.................50 ................................................. 21 ................................ .................... 15
.................60 ..................................................20 ................................ .....................16
..................70 .................................................19 ............................... .....................17
....................80 ...............................................18 ............................... .....................18
.....................90 ............................... ..............17 ............................... .....................19
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