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China is a large country as an importer of New Zealand dairy milk. Chinese import demand function of milk is QD = 200 - 10P.

China is a large country as an importer of New Zealand dairy milk. Chinese import demand function of milk is QD = 200 - 10P. New Zealand demand function for milk is QD = 40 - 2P and its supply function of milk is QS = 8P. Suppose New Zealand adopts an export subsidy of $2 on dairy milk. New Zealand welfare from the dairy milk market is 500 515 525 545

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