Waec Model Questions Vol1 2017 Economics Question 26
Practice objective / multiple choice question 26 from the 2017 Waec Model Questions Vol1 Economics examination.
Nigeria imports 2 000 000 tonnes of wheat at a world price of $200 per tonne. The government introduces a quota of 500 000 tonnes that can be imported duty‑free, while any quantity above the quota is subject to an ad valorem tariff of 15 %. What is the percentage increase in total expenditure on wheat after the policy compared with the situation of free trade?
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About This Question
This is Waec Model Questions Vol1 2017 Economics Question 26. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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