The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff deadweight loss. (Do not include a "$" sign in your response.)
The domestic demand for carrots is given by: QD=2000-50P. The domestic supply for carrots is given by: QS=100P-700. The country is open to free trade and finds the world price of carrots is $12. The government levies a $3 per unit tariff on imported carrots. Calculate the tariff deadweight loss. (Do not include a "$" sign in your response.)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter6: The Economics Of Political Action
Section: Chapter Questions
Problem 15CQ
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Question
Lesson 12 Question 1
![The domestic demand for carrots is given by: QD=2000-50P.
The domestic supply for carrots is given by: QS=100P-700.
The country is open to free trade and finds the world price of carrots is $12.
The government levies a $3 per unit tariff on imported carrots.
Calculate the tariff deadweight loss.
(Do not include a "$" sign in your response.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F840ac9d4-eb27-4280-b70d-21eed9a81895%2Fe63984a6-bbf2-442d-820c-4d3a0ede1034%2Fe2h099i_processed.png&w=3840&q=75)
Transcribed Image Text:The domestic demand for carrots is given by: QD=2000-50P.
The domestic supply for carrots is given by: QS=100P-700.
The country is open to free trade and finds the world price of carrots is $12.
The government levies a $3 per unit tariff on imported carrots.
Calculate the tariff deadweight loss.
(Do not include a "$" sign in your response.)
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