Question: Solve the problem below with step by step and Graph it! The Effect of Tariff on economic welfare The case of a small country The

Solve the problem below with step by step and Graph it!

The Effect of Tariff on economic welfare The case of a small country The demand and supply curves for pocket calculators in Norway are given by: D =36- 2P; S = - 12 + 4P Assume that the world price for calculators is $4.00 per calculator and that Norway decides to impose a $1.00 tariff on each calculator imported. 1. How many calculators will Norway import under free trade? 2. How many calculators will Norway import after the tariff is imposed? 3. What is the deadweight loss for Norway? 4. Find the change in consumer surplus after the tariff is imposed

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