The Following Table Is Domestic Supply and Demand Schedules for a Product.Suppose

question 77

Multiple Choice

The following table is domestic supply and demand schedules for a product.Suppose that the world price of the product is $1. Refer to the above data.With a $1 per unit tariff, prices (revenue per unit) received by domestic and foreign producers respectively will be:

• A)$2 and $1.
• B)$1 and $2.
• C)$2 and $2.
• D)$3 and $2.