Consider a Market in Which There Is an Import Tariff

question 46

Multiple Choice

Consider a market in which there is an import tariff. Which of the following is true?

• A) The lost consumer surplus equals the gain in producer surplus plus the government revenue plus the deadweight loss.
• B) The lost consumer surplus equals the gain in producer surplus.
• C) The lost consumer surplus equals the gain in producer surplus plus the government revenue.
• D) The lost consumer surplus plus the deadweight loss equal the gain in producer surplus plus the government revenue.

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