Please give me accurate answer with fluu explanation otherwise i give multipe downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Refer to the following graph.Price of Imported Carsin thousands of dollars2010,000Quantity of Imported CarsSuppose the graph depicted market demand for British cars sold in the United States. A tariff of $1,000 a car would result in tax revenue of:Ogreater than $10 million.Ozero.O$10 million,Oless than $10 million.

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Answered: Suppose the graph depicted market…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me accurate answer with fluu explanation otherwise i give multipe downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

Refer to the following graph.
Price of Imported Cars
in thousands of dollars
20
10,000
Quantity of Imported Cars
Suppose the graph depicted market demand for British cars sold in the United States. A tariff of $1,000 a car would result in tax revenue of:
Ogreater than $10 million.
Ozero.
O$10 million,
Oless than $10 million.

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