After a Tariff Is Imposed, Consumers Must Pay a Price

question 62

Multiple Choice

After a tariff is imposed, consumers must pay a price equal to the

• A) domestic equilibrium price when there is no trade.
• B) world market price less the tariff.
• C) world market price.
• D) domestic equilibrium price when there is no trade plus the tariff.
• E) world market price plus the tariff.

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Definitions:

Nurturance

The provision of care, support, and encouragement to aid the development or growth of another.

Antisocial Behavior

Actions that harm or lack consideration for the well-being of others, often violating social norms or laws.

Knock Over

The act of causing something to fall by striking it or bumping into it accidentally or intentionally.

Prosocial Behavior

Voluntary actions that are intended to help or benefit another individual or group of individuals without expecting anything in return.