The Following Table Gives the Hypothetical Supply and Demand of Television

question 90

Multiple Choice

The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set. How much total tariff revenue will Guatemala collect when it imposes the 100% tariff on imported TVs?

• A) $300
• B) $0
• C) $240,000
• D) $360,000

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