The cost (or 'deadweight welfare loss') from protection consists of
A) the loss in consumer surplus.
B) the gain in producer surplus - the loss in consumer surplus + the gain in tariff revenue.
C) the loss in consumer surplus + the loss in producer surplus + the gain in tariff revenue.
D) the loss in consumer surplus - the gain in producer surplus - the gain in tariff revenue.
Correct Answer:
Verified
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A)
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