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please answer the following 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for wheat in

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4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for wheat in Kenya. The world price (Pw) of wheat is $255 per bushel and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of wheat and that there are no transportation or transaction costs associated with international trade in wheat. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Domestic Demand Domestic Supply PRICE (Dollars per bushel) 0 40 80 360 400 120 160 200 200 200 320 QUANTITY (Bushels of wheat) IF Kenya is open to international trade in wheat without any restrictions. It will import bushels of wheat. p er bushel Suppose the Kenyan government wants to reduce imports to exactly 160 bushels of wheat to help domestic producers. A tariff of s will achieve this. A tariff set at this level would raises in revenue for the Kenyan government

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