Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased its production of soybeans by & 12 pounds b.18 pounds Oc. 36 pounds. d. 48 pounds IM 100 IN IM IM 140 130 130 116 . 1 IN 6 3 Refer to Figure 6-23. Which of the following is correct? a. The entire burden of the tax falls on sellers, and none of the burden of the tax falls on buyers. b. One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the tax falls on sellers. W WO PO M N 4 . 3 Figure 6-23 The following diagram shows the domestic demand and domestic supply in a market. In addition, assume that the world price in this m I deter 10 12 14 16 Donate THAN De Dread p Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. The amount of revenue collected by the government from the tariff is $6,000 b. $9.000

Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased its production of soybeans by & 12 pounds b.18 pounds Oc. 36 pounds. d. 48 pounds IM 100 IN IM IM 140 130 130 116 . 1 IN 6 3 Refer to Figure 6-23. Which of the following is correct? a. The entire burden of the tax falls on sellers, and none of the burden of the tax falls on buyers. b. One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the tax falls on sellers. W WO PO M N 4 . 3 Figure 6-23 The following diagram shows the domestic demand and domestic supply in a market. In addition, assume that the world price in this m I deter 10 12 14 16 Donate THAN De Dread p Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. The amount of revenue collected by the government from the tariff is $6,000 b. $9.000

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.7P

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