Question 14 The US decides to impose a tariff on Avocados of $0.75 each Under Free Trade you have the following information: World and US Price: $1 per Unit Domestic Consumption Domestic Production: 25 Billion Units 1 Billion Units Under a Tariff you have the following information: New US Price: $1.75 per Unit 21 Billion Units 5 Billion Units (a) How much does the government gain in tariff revenue? Domestic Consumption: Domestic Production: (b) How much do domestic producers gain? (c) How much do consumers lose? (d) What is net national or "dead weight" loss?

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A: FEEL FREE TO ASK FOR CLARIFICATIONS.