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In the following figure, Pw is the world price and Pw + T is the world price plus a tariff. Identify the following: Price A

In the following figure, Pw is the world price and Pw + T is the world price plus a tariff. Identify the following:

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Price A SUS Price SW 2 Pw +T - - - 3 Pw- - - - PW 4 5 16 7 DW - - Dus 0 Quantity of Cars 0 Q Q3 QA Q2 Quantity of Cars (a) U.S. Imports World Market at Pw + T U.S. Imports at Pw (b) Domestic (U.S.) Market a. The level of imports at Pw: b. 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 as the 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 situation to a no-tariff situations

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