Question: HW # 7: PROBLEM SET Tariffs, Quotas, and Strategic Trade Policy Consider a country with the following demand and supply functions for a commodity: Demand:

HW # 7: PROBLEM SET Tariffs, Quotas, and Strategic Trade Policy Consider a country with the following demand and supply functions for a commodity: Demand: QD = 100 - P Supply: QS = -10 + 10 P 1) Autarky: Compute the equilibrium price and quantity for this market in autarky. Draw a graph. Compute total consumer surplus and producer surplus

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