Econ question show ans and steps(graph)! Question 4 (1 point) The market for USB

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Econ question show ans and steps(graph)!

Question 4 (1 point) The market for USB flash drives in Country A is perfectly competitive and is in equilibrium. Domestic demand is given by Q 1800 4P and domestic supply is given by Qs 2P The world price for flash drives is $10. Now, a tariff of $10 is imposed on a imported flash drives.. How much revenue does this tariff generate for the government? O 1) Tariff Revenue less than $500 2) Tariff Revenue at least $500 but less than $1,000 O 3) Tariff Revenue at least $1,000 but less than $1,500 O 4) Tariff Revenue at least $1,500 but less than $1,800 O 5) Tariff Revenue $1,800

Explanation / Answer

2P=180-4P
6P=180
P=30

QD=180-120=60
ANS IS B

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