An import quota on sugar will: 0 decrease government revenue 0 increase government revenue 0 not enough information to know 0 have no impact on government revenue An import quota: 0 leads to less trade between nations 0 has no impact on trade 0 leads to more trade between nations 0 depends on the situation, not enough information to know Federal subsidies to higher education have the effect of: 0 increasing the equilibrium quantity and lowering tuition 0 increasing the equilibrium quantity and increasing tuition O decreasing the equilibrium quantity and lowering tuition O decreasing the equilibrium quantity and increasing tuition Federal subsidies to higher education have the effect of: 0 reduce tax burdens 0 result in dead weight loss 0 do not affect social welfare 0 increase social welfare The State of Kansas has recently increased the tax on alcohol to pay for the budget shortfall. The price elasticity of supply of alcohol is 2, and the price elasticity of demand for alcohol is -1. 0 Alcohol consumers pay 71 percent of the tax 0 Alcohol consumers pay 67 percent of the tax 0 Alcohol consumers pay 90 percent of the tax 0 Alcohol consumers pay 75 percent of the tax A large agricultural equipment dealer hires you to advise the company on price policy. The rm would like to know how a ten percent increase in quantity will reduce price. What do you need to know to help the company answer this question? 0 The rm's markup over MC as a percentage of price 0 The price elasticity of demand and initial level of P O The initial price and elasticity of demand to determine MC of production 0 The MC of production to determine the price elasticity of demand and initial level of