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Use the Excess Demand and Excess Supply figure below for HOME and FOREIGN.Suppose Home imposes an import tariff on Foreign goods entering Home. Describe how

Use the Excess Demand and Excess Supply figure below for HOME and FOREIGN.Suppose Home imposes an import tariff on Foreign goods entering Home.Describe how Home's tariff ultimately alters world prices and domestic prices in both countries.Give the details and the reason.

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PRICE EXCESS DEMAND and ES - FOREIGN EXCESS SUPPLY IA B H C IG L - D K E ED - HOME F ED with tariff QUANTITY TRADED

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