Refer to the Accompanying Table for a Certain Product's Market

question 226

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Quantity Demanded } \\\text { Domestically }\end{array} & \text { Price } & \begin{array} { c } \text { Quantity Supplied } \\\text { Domestically }\end{array} \\\hline 1,400 & \$ 10 & 2,200 \\\hline 1,600 & 9 & 2,000 \\\hline 1,800 & 8 & 1,800 \\\hline 2,000 & 7 & 1,600 \\\hline 2,200 & 6 & 1,400 \\\hline 2,400 & 5 & 1,200 \\\hline\end{array}$$ Refer to the accompanying table for a certain product's market in Econland. If the world price of the product were $6 and a tariff of $1 per unit were applied to imports of the product, then the tariff
Would generate government revenues of

• A) $600.
• B) $400.
• C) $800.
• D) $1,200.

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Definitions:

Water Cycle

The continuous process by which water moves from the Earth's surface to the atmosphere and back, involving processes like evaporation, condensation, precipitation, and infiltration.

Transpiration

The process by which moisture is carried through plants from roots to small pores on the underside of leaves, where it changes to vapor and is released into the atmosphere.

Grow Crops

The practice of cultivating plants, especially on a large scale for food or other uses.

Soil Type

Classification of soil based on physical, chemical, and biological properties affecting its use and management.