Question 25 [3 points) The domestic demand and supply curves for widgets in a small open economy are given by Q3 : 100 IUP and Q3 : 16+2P. The world price for widgets is $4. If the government imposes a 25% tariff. imports are predicted to decline by O 36 units 0 12 units 0 84 units 0 24 units Question 26 [3 points} Using the information provided in the previous question. what is the predicted short- run welfare Ioss from the tariff? 0 $24 0 $5. 0 $12 0 $4