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b. How do the elasticities of demand and supply influence the revenue that a tariff generates? c. Who in the United States would benefit and
b. How do the elasticities of demand and supply influence the revenue that a tariff generates?
c. Who in the United States would benefit and who would lose from a 20 percent tariff on imports from Mexico?
d. Illustrate your answer to part (c) with an appropriate graphical analysis.
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