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Consider a Foreign monopoly exporting to Home (no domestic production), and facing a linear demand.At free trade, the equilibrium price and quantity are $50 and

Consider a Foreign monopoly exporting to Home (no domestic production), and facing a linear demand.At free trade, the equilibrium price and quantity are $50 and 500 units.With an import tariff of $10, the equilibrium price has increased to $57, while the equilibrium quantity has dropped to 400 units.

a.(2pts) Calculate the Deadweight Loss due to tariff.

b. (2pts) Calculate the total government revenue due to tariff.

c. 2pts) Calculate the change in Total Surplus due to tariff.

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