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4.2 Supply and Demand Analysis: An Oil Import Fee
Refer to the information provided in Figure 4.4 below to answer the questions that follow. Figure 4.4
-Refer to Figure 4.4. Assume that initially there is free trade. The price of oil in the United States will increase to $150 per barrel if the United States then imposes ________ tax per barrel of imported oil.
Small Business
An independently owned and operated company that is limited in size and revenue depending on the industry.
Service Providers
Entities that offer an array of services across various sectors, including telecommunications, health, or financial services, to satisfy customer needs.
Retailers
Intermediaries who buy products from manufacturers (or other intermediaries) and sell them to consumers for home and household use rather than for resale or for use in producing other products.
Ultimate Consumers
The end-users or buyers who purchase products or services for personal use and not for manufacturing or resale purposes.
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