Solution-What happens to surplus when tariff is put into

What happens to surplus when tariff is put into place

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Suppose the demand curve is Qd=2500-5P. The supply curve is Qs=5P-500. The free trade price is 200. The government institutes a tariff of 100. The drives the terms of trade price down to 120. Compared to free trade, what happens to total surplus when the tariff is put into place?

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What happens to surplus when tariff is put into place : The government institutes a tariff of 100. The drives the terms of trade price down to 120. Compared to free trade, what happens to total surplus when the tariff is put into place?

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What happens to surplus when tariff is put into place

Reference no: EM1393320

Reference no: EM1393320

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