Suppose before tariff, the price of imported avocado from Mexico to United States is $1.06 and 898 avocados are imported. After a 15 percent tariff, number of avocados is decreased to 772. What's the dead weight loss caused by this tariff? [Hint: Round your answer to 2 decimal places)

Suppose before tariff, the price of imported avocado from Mexico to United States is $1.06 and 898 avocados are imported. After a 15 percent tariff, number of avocados is decreased to 772. What's the dead weight loss caused by this tariff? [Hint: Round your answer to 2 decimal places)

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter17: International Trade

Section: Chapter Questions

Problem 2.5P

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