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Refer to the diagram to the right. The closedieconomy equilibrium price is $14. The world price is $4. A tariff of $2 is imposed on
Refer to the diagram to the right. The closedieconomy equilibrium price is $14. The world price is $4. A tariff of $2 is imposed on this market, What is the combined loss in consumer and producer surpius due to this tariff? A (Producer + Consumer) Surplus = $ 24 . (Enter your response as a whofe number and include a minus sign} How much tariff revenue is generated by the $2 addition? Tariff revenue : $ 50 (Enter your response as a whofe number.) What is the efciency loss due to the imposition of the tariff? Eiciency loss : $ (Enter your response as a whole number) Price, P 10 20 30 40 50 50 TO 80 90 Quantity 100
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