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All questions are for Indonesian 3.4. What is the government tariff revenue? 3.5. Calculate the National Welfare given the tariff. How does that compare to
All questions are for Indonesian
3.4. What is the government tariff revenue?
3.5. Calculate the National Welfare given the tariff. How does that compare to National Welfare without the tariff? What is the national welfare loss that results from the tariff? Who "pays" that welfare loss?
3.6. Calculate the deadweight consumption and production (efficiency) loss.