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Refer to the graph given below, where Sa and Do are the domestic supply and demand for a product. Answer Q19 to Q26 assuming that

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Refer to the graph given below, where Sa and Do are the domestic supply and demand for a product. Answer Q19 to Q26 assuming that the economy is open to the world trade. 16 marks Sd 24 21 18 15 12 Da 10 20 30 40 50 60 70 80 90 19 At the product price $9, the domestic producers will get revenue . 20 If the world price of the product is $15 including $3 tariff per unit, total revenue of the foreign supplier is..... 21 Assume the world is $15 including $3 per unit tariff. Net revenue of the foreign supplier is.... 22 Who will get benefits if import quota is fixed instead of tariff duty is imposed?.... 23 Any price above the domestic equilibrium price will lead to the shortage of products that can be imported. Do you agree? Why?... 24 If the world price of the product is $12, total revenue from the world trade will be .. 25 What would be the total revenue of the domestic producers if the market were closed to the international trade? 26 At the world price $12, gross revenue of the foreign producer is $360. Do you agree? Why

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