-Refer to the Above Diagram,where S_d and D_d Are the Domestic

question 80

Multiple Choice

-Refer to the above diagram,where S_d and D_d are the domestic supply and demand for a product and P_c is the world price of that product.S_d + Q is the product supply curve after an import quota is imposed.A tariff of P_cP_t will:

• A) lower domestic price and increase domestic consumption.
• B) increase the revenues of domestic producers by areas E + F + K.
• C) increase the revenues of domestic producers by areas G + H.
• D) increase the revenues of domestic producers by areas E + F + G + H + J.

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