10.27. Suppose that the domestic demand for television sets is described by Qd 40,000 ! 180P...
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10.27. Suppose that the domestic demand for television sets is described by Qd " 40,000 ! 180P and that the supply is given by Qs " 20P. If televisions can be freely imported at a price of $160, how many televisions would be produced in the domestic market? By how much would domestic producer surplus and deadweight loss change if the government introduces a $20 tariff per television set? What if the tariff was $70?
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