The Figure Given Below Depicts the Negatively Sloped Demand and Positively

question 100

Multiple Choice

The figure given below depicts the negatively sloped demand and positively sloped supply curves of wheat in a country.Figure 21.2

-According to Figure 21.2, if the world price of wheat is $25, and a tariff of $10 is imposed by the domestic government, the total tariff revenue collected by the government is:

• A)$5,000.
• B)$4,000.
• C)$2,000.
• D)$1,000.
• E)$0.

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