Use the following information to answer questions 15-17. Consider the partial equilibrium model for tariff effects. Country A's Market World (Country A's Import) Market Px S S*+520 GB0 m e e e o $80 Jgm-mmmmm el $70 $70 N e A S h a $60 ----- $50 S50 T = _ o = $30 10203040 60 8 100 Q, 0o M, M, M Importsy The left panel of the figure above shows Country A' home supply (S) and demand (D) curves for good X. Country A is a large country. Country A has a tariff of $20 on the imports of good X. With the tariff, the price of good X in Country A is $70. The right panel of the figure above shows Country A's home import demand curve (M), the foreign export supply curve under free trade (S*), and the foreign export supply curve when Country A applies a tariff of $20 (S*+$20). Now suppose that Country A removes its tariff entirely (from t = $20 to t=0). As a result, Country A's price for good X becomes $60, which is the new world price. Note: The area of a triangle is 0.5x(base)x(height), and the area of a trapezoid is 0.5x(top base)x(bottom base)x(height). With the removal of the tariff, Country A's consumer surplSS4 dollars (2 marks). Increases decreases With the removal of the tariff, Country A's net welfare Ll (1 mark) by dollars (2 marks). With the removal of the tariff, Country A's net welfare + | (1 mark) by dollars (2 marks). From the left panel of the figure, % | (1 mark) by the + | (1 mark) by the 2 marks). (2 mark) and the terms-of-trade gains e removal of the tariff, Country A's dead weight loss