Suppose the U.S. 'Imports false teeth from Liechtenstein. The importdemand and exportsupply curves are given in the diagram below. Calculate deadweight loss for both countries when the U.S. levies an import tar'Iff of $150 per set of false teeth Calculate the U.S. termsoftrade gain when the tariff is $1.50. Calculate the effect of the tar'Iff on social welfare [relative to free trade} 'In both countries. Be sure to provide explanations for your answers and clearly show your calculations. 550 500 450 400 350 300 250 200 150 100 50 0 200 400 600 800 1000 1200 I|rnport Demand HExport Supply