Which one of the following statements about protective tariffs is correct? a. protective tariffs are excise taxes or duties placed on imported products. b. protective tariffs are government payments to domestic producers to reduce the world prices of exported goods. c. protective tariffs are maximum limits on the quantity or total value of specific products imported to a nation. d. protective tariffs are licensing requirements, unreasonable quality standards, and the like designed to impede imports.

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.