Effect_of_Import_Tariff_-_v1.png
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Summary
| Description |
English:
Diagram showing effects of import tariff, which hurts domestic consumers more than domestic producers are helped. Higher prices and lower quantities reduce consumer surplus by A+B+C+D, while expanding producer surplus by A and government revenue by C. Areas B and D are deadweight losses, surplus lost by consumers and overall.
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| Date | |
| Source | Own work |
| Author | Farcaster |
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