Which Americans benefit from the tariff? Why?    Describe why the imposition of a tariff creates a deadweight loss

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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  1. Which Americans benefit from the tariff? Why? 

 

  1. Describe why the imposition of a tariff creates a deadweight loss.
Price ($/pair)
150
125
100
75
50
25
O
2
U.S. Market for Shoes
P
6
U.S. Supply
00
8
U.S. Demand
Quantity (millions of shoes)
Transcribed Image Text:Price ($/pair) 150 125 100 75 50 25 O 2 U.S. Market for Shoes P 6 U.S. Supply 00 8 U.S. Demand Quantity (millions of shoes)
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