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Consider a small country that imports good X from an international market. Let the initial international price of good X be $100, and the country

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Consider a small country that imports good X from an international market. Let the initial international price of good X be $100, and the country decides to impose an import tariff of 20% on the product. Use the information in the graph below to answer the following questions.

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Price of Price after tax World Price Import Demand 10 20 100 110 Quantity of good X

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