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Suppose the following diagram shows the domestic supply and demand curve for a good. Assume that the world price is $15 per unit. 50 -..
Suppose the following diagram shows the domestic supply and demand curve for a good. Assume that the world price is $15 per unit. 50 -.. D Q 10 20 30 40 50 60 70 80 90 Q1: What would be the total import quantity? Q2: If the government introduces a $5 tariff on import, then what would be the total import quantity? Q3: How much would the government earn from the import tariff? 04: How much would the Consumers lose (reduction in the Consumer Surplus)? 05: How much would the Producers gain (increase in the Producer Surplus)? 06: What would be the estimated DWL
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