Egypt has the demand and supply functions for product X;<\/p>
P=2+3.Qs<\/sup><\/p> P=56-6.QD<\/sup><\/p> <\/p> P shows 1000 USD per tonnes of product X and Q shows quantity demanded and supplied in tonnes.<\/p> <\/p> Product X is freely traded in world market at P=14(000) per tonne. Egyptian government allows for free trade at first but then adds a tariff of 3(000) USD.<\/p> <\/p> Question: What is the total welfare after the tariff in terms of USD? There is nothing missing here. <\/u><\/strong><\/p>",
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"cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/531.jpg",
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