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The world price of textiles is Pw, as in the accompanying figure of the domestic supply and demand for textiles. A graph plots price versus
The world price of textiles is Pw, as in the accompanying figure of the domestic supply and demand for textiles. A graph plots price versus quantity.The horizontal axis represents quantity and the vertical axis represents price. The graph has one positive slope and one negative slope. Two horizontal lines are marked at P t and P w on the Y-axis. The starting point of the first line is labeled F. It meets the S slope at H and the D slope at I. The starting point of the second line is labeled G. It meets the S slope at E and then the D slope. Four horizontal lines are marked from E, H, I, and an unlabeled point. These lines touch the X-axis at A, B, C, and D. If the government imposes a tariff, t, to protect the domestic producers: What is the revenue to government? multiple choice EKAB FIJG HIJK HICB
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