​Exhibit 18-6 ​

question 97

Multiple Choice

​Exhibit 18-6
​
-Refer to Exhibit 18-6. After the tariff domestic producers gain area:

• A)​C + G
• B)​C + A
• C)​C
• D)​B

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Definitions:

Expenses

Costs that a business incurs through its operations to generate revenue, including costs of goods sold, rent, utilities, and salaries.

Profit & Loss Statement

A financial report that summarizes the revenues, costs, and expenses incurred during a specific period, typically used to assess a company's financial performance.

Income

The financial gain received by an individual or a business, often obtained from a job, business operations, or investments.

Expenses

Costs incurred by a business in the process of earning revenue, such as salaries, rent, and utilities.