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Question 23 1 pts Under free trade, a large country produces 1 million coffee makers per year and imports another 2 million coffee makers per
Question 23 1 pts Under free trade, a large country produces 1 million coffee makers per year and imports another 2 million coffee makers per year at the world price of $60 each. Assume that the country imposes a specic tariff of $5 per coffee maker. As a result, the per-unit price of coffee makers decreases to $58 in the international market and the import of coffee makers drops to 1.6 million. The domestic production, on the other hand, increases to 1.1 million units. Following the imposition of the tariff, the domestic consumers pay a price of $ ________ for each coffee maker
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