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Q10) Suppose that the domestic demand for television sets is described by Q = 40,000 1801J and that the supply is given by Q =
Q10) Suppose that the domestic demand for television sets is described by Q = 40,000 1801J and that the supply is given by Q = 201'. Iftelevisions can be freely imported at a price of $160, how many televisions would be produced in the domestic market? By how much would domestic producer surplus and deadweight loss change if the government introduces a $20 tariff per television set? What if the tariff was $70
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