trade deal, Japan will bring its tariff on canola oil down to zero.  Using the hypothetical Japanese canola oil market below, how will total surplus change as a result of the removal of the tariff?  (Do not include the extra zeros for millions in your answer.  If total surplus falls, enter a negative number.)  (Please note: The y-intercept is 9 and the

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Over the next 4-5 years, as part of the free trade deal, Japan will bring its tariff on canola oil down to zero.  Using the hypothetical Japanese canola oil market below, how will total surplus change as a result of the removal of the tariff? 

(Do not include the extra zeros for millions in your answer.  If total surplus falls, enter a negative number.)  (Please note: The y-intercept is 9 and the x-axis begins at zero.)

 

 

126
113
100
87
74
9.
81 99 117
Q (millions of kg)
45
63
Transcribed Image Text:126 113 100 87 74 9. 81 99 117 Q (millions of kg) 45 63
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Total surplus= consumer surplus+producer surplus

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