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One year after the price regulation, the government allowed the importation of cashew nuts and imposed a tariff of $1 per kg of cashew nuts
- One year after the price regulation, the government allowed the importation of cashew nuts and imposed a tariff of $1 per kg of cashew nuts imported.
- Determine the quantities produced by domestic firms and purchased by domestic consumers. Show them on the diagram.
- How much tariff revenue did the government collect
- Inefficiency caused by tax calculations
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