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If the government responded to fall in price by imposing a tariff of $100 on imported televisions, what would this do? Show this on the
If the government responded to fall in price by imposing a tariff of $100 on imported televisions, what would this do? Show this on the graph and calculate the government revenue that would be raised and the deadweight loss due to tariff. Would it be good policy from the standpoint of Canadian welfare? Who might support the policy (producers or consumers)? Give numerical answers.
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