Trade Restrictions – Tariffs
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Get it written →Trade Restrictions – Tariffs
Directions: Answer the questions below based on the graph.
1. How many units will the domestic firms produce without trade?
2. How many units will the domestic firms produce without a tariff if the foreign producer
can sell the product at a $4 price?
3. How many units will the foreign firms produce / sell if a government tariff of $2.00 is
imposed on foreign goods?
4. What will be the total government revenues if a tariff of $2.00 is imposed on foreign
goods?
5. What will be the total deadweight losses if a tariff of $2.00 is imposed on foreign goods?
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