Scenario 9-1
Suppose domestic demand and domestic supply in a market are given by the following equations:
-Refer to Scenario 9-1.Suppose the world price in this market is $8 per unit,and suppose the country imposes a $1 per unit tariff.If the country allows trade with a tariff,how much are consumer surplus,producer surplus,tariff revenue,and total surplus?

Question

Scenario 9-1
Suppose domestic demand and domestic supply in a market are given by the following equations: 
-Refer to Scenario 9-1.Suppose the world price in this market is $8 per unit,and suppose the country imposes a $1 per unit tariff.If the country allows trade with a tariff,how much are consumer surplus,producer surplus,tariff revenue,and total surplus?

Quizplus · Accepted Answer

The Answer of Scenario 9-1
Suppose domestic demand and domestic supply in a market are given by the following equations: 
-Refer to Scenario 9-1.Suppose the world price in this market is $8 per unit,and suppose the country imposes a $1 per unit tariff.If the country allows trade with a tariff,how much are consumer surplus,producer surplus,tariff revenue,and total surplus?

Scenario 9-1 Suppose Domestic Demand and Domestic Supply in a Market Are