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Jeopardy Questions. As in the popular television game show, you are given an answer to a question and you must respond with the question. For example, if the answer is a tax on imports, then the correct question is What is a tariff?
a. Of concentrated or dispersed, this is how to describe the typical benefits that accrue to producers because of an import tariff.
b. The amount of money gained by each producer of coffee due to a $0.25 tariff if $20 million is gained in producer surplus in a market of twenty producing firms.
c. The rate of return on a $50,000 lobbying expense if that lobbying results in a $0.30 tariff on coffee and nets the firm an additional $3,000,000 in profit.
d. Of consumer groups or producer groups, this group is more likely to form an effective lobby.
a. Of concentrated or dispersed, this is how to describe the typical benefits that accrue to producers because of an import tariff. Ans: producer surplus b. The amount of money gained by each producer of coffee due to a $0.25 tariff if $20 million is gained in producer surplus in a market of twenty producing firms. Ans: Economic rent c. The rate of return on a $50,000…

bying expense if that lobbying results in a $0.30 tariff on coffee and nets the firm an additional $3,000,000 in profit. Ans: Investment d. Of consumer groups or producer groups, this group is more likely to form an effective lobby Ans: Small groups

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