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Loraine Loraine
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9 years ago
If the United States imposes a tariff on foreign chocolate, how are foreign producers of chocolate affected?
A) Their supply increases because they have to pay the tariff.
B) They export less to the United States.
C) They earn more profit because their chocolate sells for a higher price.
D) Their supply is unaffected because the quota must be met by U.S. producers.
E) The tariff has no effect on foreign producers because U.S. consumers must pay the higher price.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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VincenzoDVincenzoD
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