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Calculate the foreign firm's revenue when tariff=2. Is it higher or lower than domestic firm's producer surplus? And by how much? If tariff is set
Calculate the foreign firm's revenue when tariff=2. Is it higher or lower than domestic firm's producer surplus? And by how much? If tariff is set for the next 4 years and then will revert back to the original free trade price, what will be the gain for the firm during this time
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