Question 10 The table below represents a country's ordinary demand and supply for peanuts. This country is a small importer. Suppose that the world price of peanuts is $4. Finally, suppose that this country levies a $4 tariff. What is the dollar value of the net change in social welfare resulting from the tariff? Do not include a dollar sign in your answer. Use a negative sign if you think that the tariff reduces social welfare. Round your answer to the nearest whole number. Quantity Demanded Price 2 4 6 8 10 12 14 1,300 1,100 900 700 500 300 100 Quantity Supplied 100 200 300 400 500 600 700

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Question 10
The table below represents a country's ordinary demand and supply for peanuts.
This country is a small importer. Suppose that the world price of peanuts is $4.
Finally, suppose that this country levies a $4 tariff. What is the dollar value of the
net change in social welfare resulting from the tariff?
Do not include a dollar sign in your answer.
Use a negative sign if you think that the tariff reduces social welfare.
Round your answer to the nearest whole number.
Quantity Demanded
Price
2
4
6
8
10
12
14
Your Answer:
1,300
1,100
900
700
500
300
100
Quantity Supplied
100
200
300
400
500
600
700
Transcribed Image Text:Question 10 The table below represents a country's ordinary demand and supply for peanuts. This country is a small importer. Suppose that the world price of peanuts is $4. Finally, suppose that this country levies a $4 tariff. What is the dollar value of the net change in social welfare resulting from the tariff? Do not include a dollar sign in your answer. Use a negative sign if you think that the tariff reduces social welfare. Round your answer to the nearest whole number. Quantity Demanded Price 2 4 6 8 10 12 14 Your Answer: 1,300 1,100 900 700 500 300 100 Quantity Supplied 100 200 300 400 500 600 700
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