d. Determine the quantity imported before and after the tariff. e. Determine the consumer surplus before and after the tariff. f. Determine the producer surplus before and after the tariff.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
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Can someone answer d,e, and f?
d.
Determine the quantity imported before and after the tariff.
e.
Determine the consumer surplus before and after the tariff.
f.
Determine the producer surplus before and after the tariff.
Transcribed Image Text:d. Determine the quantity imported before and after the tariff. e. Determine the consumer surplus before and after the tariff. f. Determine the producer surplus before and after the tariff.
Expert Solution
Step 1 Producer and consumer surplus with Tariff

Economics homework question answer, step 1, image 1

Before tariff is imposed:

  • The quantity imported was (Qd - Qs) = (160 - 40) = 120 units.

 

After the tariff is imposed:

  • The quantity imported is now (QTd - QTs) = (140 - 80) = 60 units.
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