1. How do you calculate the relative quantities of the demand and supply curve? (Eg. the numbers of 11.75,14.375,38.625?

f) Draw a graph of the situation above that is similar to either Figure 8-9 (for a tariff) or Figure 8-11 (for a subsidy). Calculate the consumer and producer gains or losses as well as government revenue or expenditure. Calculate the production and consumption distortions and the terms of trade loss or gain. Use a negative sign to indicate a loss 120 SCanada DCanada 42.75 A B C D 37.5 E 35.75 14 11.75 14.375 38.625 41.25 60