Figure 7-2 Price (dollar per pound) U.Supply $3.00 2.50 Py+Tar World price, P US. demand 175 0.500 45 Quantity of coffee (millions of pounds) 15 24 30 36 Suppose the US. government imposes a $0.75 per pound tariff on coffee imports. Figure 7-2 shows the impact of this tariff. Refer to Figure 7-2. With the tariff in place, the United States O imports 30 million pounds of coffee. O imports 12 million pounds of coffee cxports 36 million pounds of coffe. O imports 24 million pounds of coffee

ENGR.ECONOMIC ANALYSIS
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Figure 7-2
Price
(dollars
per pound)
US supply
$3.00
250
Pw+ Tari
World price, Pw
u.S. demand
175
0.500
45 Quantity of coffee
(millions of pounds)
15
24
30
36
Suppose the US. government imposes a $0.75 per pound tariff on coffee imports. Figure 7-2 shows the impact of this tariff.
Refer to Figure 7-2. With the tariff in place, the United States
O imports 30 million pounds of coffee.
O imports 12 million pounds of coffee
exports 36 million pounds of coffee
O imports 24 million pounds of coffee
Transcribed Image Text:Figure 7-2 Price (dollars per pound) US supply $3.00 250 Pw+ Tari World price, Pw u.S. demand 175 0.500 45 Quantity of coffee (millions of pounds) 15 24 30 36 Suppose the US. government imposes a $0.75 per pound tariff on coffee imports. Figure 7-2 shows the impact of this tariff. Refer to Figure 7-2. With the tariff in place, the United States O imports 30 million pounds of coffee. O imports 12 million pounds of coffee exports 36 million pounds of coffee O imports 24 million pounds of coffee
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