Price/Cost/Revenue BEDAZZLED TIRE SWINGS 180 of groweliot endl nevis Supply 160 (U.S.) ma 10 15dmun ent 140 120 100 B e 80 World Price plus Tariff D F 60 G w..... World Price 40 H Demand 20 (U.S.) 10 20 40 50 60 70 80 90 100 110 120 Quantity The graph above depicts the demand and supply in a local market along with the world price and an imposed tariff. 1. Use the lettered names for the areas depicted above to indicate (1 point each): a. Consumer surplus with free trade (no tariff) A b. Producer surplus with free trade c. Consumer surplus after the imposition of the tariff ABIC Erw d. Producer surplus after the imposition of the tariff DITT 2. Calculate the change in Total Economic Surplus that results from the tariff (5 points). 3. Calculate the Dead Weight Loss that results from the imposition of the tariff (4 points). 4. Calculate amount of revenue raised from the tariff (4 points). 17 points