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If the United States is currently importing 14 million barrels per day at a world price of​ $4.00 per unit​ (the entire amount​ consumed), what is the effect on imports of a tax equal to ​$4.00 per​ unit? ​1.) Using the line drawing​ tool, help determine the quantity of U.S. crude oil imports after the ​$4.00 ​per-unit tax by drawing a horizontal line at the price paid by U.S. consumers. Label this line​ '+ Tax'.

User EmJ
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Answer:

The solution is given is given in the attachments.

If the United States is currently importing 14 million barrels per day at a world-example-1
User Amol Gangadhare
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