Question

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'.

Answer 1

Answer:

The solution is given is given in the attachments.