a. At $800 price how many board feet of lumber can Americans purchase from domestic U.S.suppliers?______feet.b. At $800 price how many board feet of lumber will Americans have to import from abroad?______Feet. c. At $800 price how much would government collect in tariff revenue on the amount of lumber boardfeet imported? $.______d. Using lettered areas (a - p) identify areas that show the consumers' surplus, and producers'surplus at $400 world price:- Consumer surplus=- Producer surplus=

7. Diagram below shows domestic supply of and demand for US lumber (in 100s of board feet). World price is at $400.00. Tariff is set at $400.00 per 100 board feet. (12 points) The US Lumber Market $2,000 $1,800 Domestic Supply $1,600 $1,400 a $1,200 Dollars per thousand board feet $1,000 b World Price + Tariff $800 $600 C g World Price $400 d $200 Domestic Demand $0 0 10 20 30 40 50 60 70 80 90 100 100s of board feet