If Australia Imposes a Tariff on Foreign Chocolate, How Are

question 76

Multiple Choice

If Australia imposes a tariff on foreign chocolate, how are foreign producers of chocolate affected?

• A) Their supply increases because they have to pay the tariff.
• B) The tariff has no effect on foreign producers because Australian consumers must pay the higher price.
• C) They export less to Australia.
• D) Their supply is unaffected because the quota must be met by Australian producers.
• E) They earn more profit because their chocolate sells for a higher price.

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