Assume that the domestic supply curve for cars is given by P=10+ Q and the demand...

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Assume that the domestic supply curve for cars is given by P=10+ Q and the demand for cars is given by P=90-QD. Further, assume that cars can be imported and the world price for cars is equal to 30. If the government imposes a tariff of 10 how much tariff revenue will be collected? Assume that the domestic supply curve for cars is given by P=100+20S and the demand for cars is given by P=1600-QD. Further, assume that cars can be imported and the world price for cars is equal to 800. In this case imports are equal to: 0. 100. 350. 450. 800. Assume that the domestic supply curve for cars is given by P=10+ Q and the demand for cars is given by P=90-QD. Further, assume that cars can be imported and the world price for cars is equal to 30. If the government imposes a tariff of 10 how much tariff revenue will be collected? Assume that the domestic supply curve for cars is given by P=100+20S and the demand for cars is given by P=1600-QD. Further, assume that cars can be imported and the world price for cars is equal to 800. In this case imports are equal to: 0. 100. 350. 450. 800.

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To calculate the tariff revenue we need to determine the quantity of imports after the tariff is imp... View the full answer