In the accompanying figure,

G1 03 Q4 02 Quantity PW is the world price and PW + T is the world price plus a tariff. Identifyr the following: a. The level of imports at PW o. The level of imports at PW + T c. The loss in consumers' surplus as a result of a tariff d. The gain in producers' surplus as a result of a tariff e. The tariff revenue received by the government as a result of a tariff f. The net loss to society as a result of a tariff g. The net benefit to society of moving from a tariff to no tariff 3. Using the data in the accompanying table, answer the following questions: khan Dated: E: 2&3: ad: adv ad: adv M A 1 o w o 9 1w 25 m w c m m x 1m 0 o H 0 mo a. For which good does Canada have a comparative advantage? in. For which good does Italy have a comparative advantage? c. What might be a set of favorable terms of trade for the two countries? d. Prove that both countries would be better off in the specialization-trade case than in the no-specialization-notrade case