Figure 9.9 -Refer to Figure 9.9. Now Suppose an Import Quota of Quota

question 43

Multiple Choice

Figure 9.9
-Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed. Government revenue from the quota will be

• A) $0.
• B) $2,500.
• C) $7,500,000.
• D) $12,500,000.
• E) $13,125,000.

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Definitions:

Sherman Antitrust Act

The 1890 United States landmark legislation designed to prevent anti-competitive agreements and to promote economic fairness and competition.

Public Good

An item or service offered to every person in a society for free, supplied by either governmental bodies or private entities or people, without any intention of making a profit.

William Tweed

A notable political figure in 19th-century New York, leader of the city's Democratic political machine, Tammany Hall, known for his involvement in politics and corruption.