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The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff revenue. (Do not include a "$" sign in your response.)

The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff revenue. (Do not include a "$" sign in your response.)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Lesson 12 Question 4

The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff revenue. (Do not include a "$" sign in your response.)
Transcribed Image Text:The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff revenue. (Do not include a "$" sign in your response.)
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