Refer to the Figure Below to Answer the Following Questions

question 26

Multiple Choice

Refer to the figure below to answer the following questions.

The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve.The world price is $20 per shirt.Canada imposes a tariff on imported shirts of $4 per shirt.
Figure 7.3.1
-Refer to Figure 7.3.1,the deadweight loss from the tariff is ________.

• A)$80 million
• B)$16 million
• C)zero
• D)$64 million
• E)$32 million

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Definitions:

ICD-9-PCS

An abbreviation for the International Classification of Diseases, Ninth Revision, Procedure Coding System; a system used in the United States to classify medical procedures.

ICD-10-PCS

An international system for coding medical procedures and services, facilitating the classification and billing of healthcare interventions.

HCPCS Level II Codes

Codes used in the healthcare industry in the United States to identify products, supplies, and services not included in the CPT coding system, especially for Medicare and Medicaid patients.

CPT Codes

Current Procedural Terminology codes, a set of medical codes used to report medical, surgical, and diagnostic procedures and services.