Figure 7-2 Price (dollars per pound) $3.00 2.50 1.75 0.50 12 18 26 38 45 U.S. Supply U.S. Demand Quantity of coffee (millions of pounds) Suppose the U.S. 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. Without the tariff in place, the United States consumes 12 million pounds of coffee. Pw+tariff World price (P 26 million pounds of coffee. 33 million pounds of coffee. 45 million pounds of coffee.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Figure 7-2
Price
(dollars
per pound)
$3.00
2.50
1.75
0.50
12 18 26 38 45
U.S. Supply
U.S. Demand
Quantity of coffee
(millions of pounds)
Suppose the U.S. 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. Without the tariff in place, the United States consumes
12 million pounds of coffee.
Pw+tariff
World price (P
26 million pounds of coffee.
33 million pounds of coffee.
45 million pounds of coffee.
Transcribed Image Text:Figure 7-2 Price (dollars per pound) $3.00 2.50 1.75 0.50 12 18 26 38 45 U.S. Supply U.S. Demand Quantity of coffee (millions of pounds) Suppose the U.S. 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. Without the tariff in place, the United States consumes 12 million pounds of coffee. Pw+tariff World price (P 26 million pounds of coffee. 33 million pounds of coffee. 45 million pounds of coffee.
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