The following graph shows the supply of and demand for baseballs in the United States.If the world price is $3 per baseball and a tariff of $1 per baseball is imposed,then the tariff revenue collected by the United States government is shown by the area _____.
Definitions:
AGI
Adjusted Gross Income; an individual's total gross income minus specific deductions, used to determine taxable income.
Dependent
An individual, typically a child or family member, whose maintenance and support can be claimed as a deduction by another, usually for tax purposes.
Head of Household
A tax filing status for individuals who are unmarried or considered unmarried, provide more than half of the household expenses, and have a qualifying person living with them.
Qualifying Child
A dependent who meets specific IRS criteria relating to relationship, age, support, and residence for tax purposes.
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