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Consider a market for printers. The equilibrium price and quantity before trade is $310 and 125 respectively. If the quantity is zero sellers would charge

Consider a market for printers. The equilibrium price and quantity before trade is $310 and 125 respectively. If the quantity is zero sellers would charge $160 and buyers would pay $460. Suppose that the world price for printers is $250 which leads to domestic quantity demanded of 175 and domestic quantity supplied of 75. The domestic government decides to impose a tariff of $30 which reduces domestic quantity demanded by 25 and increases domestic quantity supplied by 25. Calculate the net effect of tariff on total welfare.

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