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132,000 barrels (Q = 132) are imported when the market is perfectly competitive. Later, the government imposes an import tariff that causes domestic supply to
132,000 barrels (Q = 132) are imported when the market is perfectly competitive. Later, the government imposes an import tariff that causes domestic supply to increase by 20,000 barrels (increase in Q by 20). Calculate: the loss of market efficiency the tariff revenues generated as a result of the import tariff
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