The Figure Given Below Represents the U

question 32

Multiple Choice

The figure given below represents the U.S. market for steel imports from Korea. The Korean government provides an export subsidy of $25 per ton, and Korean firms use the subsidy to reduce their export price to the United States to $375 per ton. Suppose the United States imposes a countervailing duty on the imports of steel at the rate of $25 per ton. What is the amount of revenue collected by the U.S. government on account of this countervailing duty?

• A)$750 million
• B)$3.75 billion
• C)$4.125 billion
• D)$375 million

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Definitions:

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The ability of an entity or project to generate sufficient revenue to cover its expenses and achieve long-term sustainability.

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The total amount of income generated by the sale of goods or services related to a company's primary operations.

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The composition of fixed and variable costs that a company incurs during its operations, impacting its profitability.