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Chillerston is a small country, importing steel. In the absence of trade, steel is bought and sold at R6 per ton and the country consumes

Chillerston is a small country, importing steel. In the absence of trade, steel is bought and sold at R6 per ton and the country consumes and produces 60 tons of steel. The free trade price of steel is R2. Represent this scenario in a well-drawn diagram and explain with the aid of the diagram, the impact of a 50 percent ad-valorem tariff on steel.

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