Suppose the following graph shows the annual domestic market for cheese in Algeria, which is a...

 

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Suppose the following graph shows the annual domestic market for cheese in Algeria, which is a producer as well as an importer of cheese. The free- trade world price of cheese is P per ton. PRICE (Dollars perton) 5600 5200 4800 4400 4000 + 3600 3200 2800 2400 + 2000 1600 1200 + 800 + Supply Demand 2 3 4 5 6 7 8 9 QUANTITY (Millions of tons per year) 10 With free trade, the price of cheese in Algeria would be $ million tons per year. The tariff million tons per year, and 11 P W Algeria's production of cheese by its imports by H 12 Price with Tariff Tariff Revenue Change in PS DWL (?) per ton. Algeria would produce Suppose Algeria's government imposes a 60% tariff on cheese imports. Assume the tariff does not influence the world price of cheese. On the preceding graph, use the black line (plus symbol) to show the world supply of cheese with the tariff. million tons per year, million tons per year. million tons of cheese per year and import its domestic consumption by Suppose the following graph shows the annual domestic market for cheese in Algeria, which is a producer as well as an importer of cheese. The free- trade world price of cheese is P per ton. PRICE (Dollars perton) 5600 5200 4800 4400 4000 + 3600 3200 2800 2400 + 2000 1600 1200 + 800 + Supply Demand 2 3 4 5 6 7 8 9 QUANTITY (Millions of tons per year) 10 With free trade, the price of cheese in Algeria would be $ million tons per year. The tariff million tons per year, and 11 P W Algeria's production of cheese by its imports by H 12 Price with Tariff Tariff Revenue Change in PS DWL (?) per ton. Algeria would produce Suppose Algeria's government imposes a 60% tariff on cheese imports. Assume the tariff does not influence the world price of cheese. On the preceding graph, use the black line (plus symbol) to show the world supply of cheese with the tariff. million tons per year, million tons per year. million tons of cheese per year and import its domestic consumption by