Use the Following to Answer Questions

question 21

Multiple Choice

Use the following to answer questions :
Figure 18-3
-If the world price in Figure 18-3 were $1.00, how much revenue would be collected by a tariff that maintained a domestic supply of 200 units?

• A)$50
• B)$100.
• C)$150.
• D)$200.
• E)None of the above.

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Definitions:

Service Charge Fee

A fee charged by a bank or financial institution for processing transactions or providing a specific service.

Finance Charges

The cost of borrowing money, including interest and other fees.

Accounts Receivable Turnover

A financial ratio that measures how effectively a company collects cash from its credit sales by comparing net credit sales with the average accounts receivable.

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for goods or services sold on credit.