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524 Part 7 International Economics and Globlization 2. In the accompanying figure, P is the world price and PT is the world price plus

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524 Part 7 International Economics and Globlization 2. In the accompanying figure, P is the world price and PT is the world price plus a tariff. Identify the following: a. The level of imports at P b. The level of imports at P+T c. The loss in consumers' surplus as a result of a tariff d. The gain in producers' surplus as a result of a tariff e. The revenue received as a result of a tariff The net loss to society as a result of a tariff The net benefit to society of moving from a tariff to no tariff Price Pw+T 3 Pw Sus Dus Q Q2 Quantity

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