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Use the graph below to identify the loss to consumers from the tariff. In this graph, the x-axis is the quanitity of shoes and the
Use the graph below to identify the loss to consumers from the tariff. In this graph, the x-axis is the quanitity of shoes and the y-axis is the price of shoes. The line for domestic supply slopes upward, and the line for domestic demand slopes downward. A horizontal dotted line connects the point where the domestic demand and the domestic supply curves cross to the y axis at price=p*dom. Below the line at p*dom, another horizontal dotted line is located at price=p+T. Below the line at p+T, a third horizontal dotted line is located at price=pf. A vertical dotted line located at quantity=Qfs extends from the x-axis to the point where line pf and the domestic supply line meet. A vertical dotted line located at quantity=QTs extends from the x-axis to the point where the line p+T and the domestic supply line meet. An unlabeled vertical dotted line extends from the x-axis to the point where the domestic demand and domestic supply lines meet. A vertical dotted line located at quantity=QTD extends from the x-axis to the point where the p+T and the domestic demand line meet. A vertical dotted line located at quantity=QfD extends from the x-axis to the
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