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The Following Table Gives the Hypothetical Supply and Demand of Television

question 90

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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. 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 How much total tariff revenue will Guatemala collect when it imposes the 100% tariff on imported TVs?


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