QUESTION 24 25 20 15 10 5 0 P 0 3 6 9 12 15 -IP 18 21 24 D Q 24. If the free trade price is IP and this country imposes a trade tariff of $3, what will be the resulting welfare loss to consumers? (Hint: the area of a triangle is 1/2 the base times the height) O a) $3 O b) $40.5 O c) $9 O d) $27 O e) $13.5

QUESTION 24 25 20 15 10 5 0 P 0 3 6 9 12 15 -IP 18 21 24 D Q 24. If the free trade price is IP and this country imposes a trade tariff of $3, what will be the resulting welfare loss to consumers? (Hint: the area of a triangle is 1/2 the base times the height) O a) $3 O b) $40.5 O c) $9 O d) $27 O e) $13.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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