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The diagram below shows a domestic market demand, supply and the equilibrium price ($33) and quantity (32). What would be the total import if this
The diagram below shows a domestic market demand, supply and the equilibrium price ($33) and quantity (32). What would be the total import if this country totally opens up this market to the world market where the price is $10. And how much would the import be reduced if the government imposes a $10 import tariff?
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