Demand and supply for television use (pay per view) by choice is described by the following demand and supply functions (v represents price per item) Demand = 198 - 2v Supply = -2 + 2v The world market price for TV use is € 30. Price per item. a) decision is now made to impose a 30% duty on the world market price of imports. But the government has now found that traditional duty can be collected through credit card companies transactions (no VAT). i) What will be the price, imports, demand and domestic supply. ii) What will be the macroeconomic loss due to duty compared to free trade without VAT?

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