Which area/areas represent producer surplus?__________ Now a tariff of $100/metric ton goes into effect. f.NOW, how much does the country produce?__________ g.NOW, how much does it consume?__________ h.NOW, how much does it import?__________ i.What area/areas represent tariff revenue?__________ j.NOW which area/areas represent consumer surplus?__________ k.What is the amount of tariff revenue?__________ k.NOW which area/areas represent producer surplus?__________l.Which area/areas represent deadweight loss?__________

ECON 101 Principles of Microeconomics Dominican University Lawrence Morgan The graph shows supply and demand conditions for a country that imports soybeans (13 points) Imports of Soybeans 1300 1200 1100 World Price+ Tarif 1000 B D E World 900 Price (dollars/ metric ton) A Price 800 700 600 8 9 Quantity (million metric tons) If the world price is $900/metric ton, a. How much does the country produce? b. How much does it consume? C. How much does it import? d. Which area/areas represent consumer surplus