Suppose panama is a "small country"in the world market for corn. the following graph shows the demand and supply curves for the panamanian domestic market for corn. The world price is $125 per ton of corn. Throughout the question, assumes that changes in trade policies in other countries do not significantly affect the world market for corn and that there are no transportation or transaction costs associated with international trade in corn. Also assume that domestic suppliers will satisfy domestic demand as much as possible before exporting or importing takes place.

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Import tons of corn. (for spaces above) Domestic price of a ton of corn will be tons of corn. , and Panama will import Consumer surplus with free trade Producer surplus with free trade Government revenue consumer surplus with tariff consumer surplus with tariff N/A Panama's consumer surplus , the government collects w/ tariff by , producer surplus by in revenue, and the net welfare effect is a