For each of the four parts of question 6, calculate the values of these areas in dollars. How much of the deadweight loss is due to the overproduction of steel by higher-cost U.S. steel producers, and how much is due to the underconsumption of steel by U.S. steel consumers?
Question 6

Determine which areas on the graph represent each of the following:
a. The increase in producer surplus gained by U.S. steel producers as a result of the tariff
b. The loss in consumer surplus suffered by U.S. steel consumers as a result of the tariff
c. The revenue earned by the government because of the tariff
d. The gains from trade that are lost (the deadweight loss) because of the tariff

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Price (S/metric ton) Domestic Supply 5625 448 363 April 2002 February 2002 DI E IE Domestic Demand 74 7.9 .9 10.2 Quantity (millions of metric tons)