Show the effects of the $40 tariff on the following graph. Use the black line (plus symbol) to indicate the world price plus the tariff. Then, use the green points (triangle symbols) to show the consumer surplus with the tariff and the purple triangie (diamond symbols) to show the producer surplus with the tarift. Lastly, use the orange quadriateral (square symbols) to shade the area representing government revenue received from the tariff and the tan points (rectangie symbols) to shade the areas representing deadweight loss (DWL) caused by the tariff. 710 Domestic Demand Domestic Supply 670 World Price Plus Tariff 630 590 550 510 470 430 390 Govermment Revenue 350 310 O 15 30 45 e0 75 90 105 120 135 150 DWL QUANTITY (Tons of maize) Compiete the following table to summarize your resuits from the previous two graphs. Under Free Trade Under a Tariff (Dollars) (Dollars) Consumer Surplus Producer Surplus Government Revenue producer surplus in revenue. Therefore, the net welfare effect is a Based on your analysis, as a result of the tariff, Bangladesh's consumer surplus by by S , and the government collects S of PRICE (Dollars per ton)

The United States has historically imposed import tariffs on goods that include tobacco, canned tuna, steel, and aluminum. Suppose the market for tobacco is illustrated by the accompanying graph. a. As shown, the world price is $2 per pound. Suppose the U.S. imposes a tariff of $1 per pound. Adjust the price line labeled "World price with tariff" (at the top of the graph) to reflect this tariff.   b. Use the letters and values in the graph to fill in the following table.   Without tariff With import tariff Price     Quantity demanded     Quantity supplied     Domestic consumer surplus     Domestic producer surplus     Government revenue     Total economic surplus       c. If the government decides to replace the tariff with a quota that will have the same effect on the market as the tariff, the quota should restrict imports to____________________( 1million pounds, 2 million…

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Suppose a large country A initially imposed a tariff on its imports and is now considering removing its tariff. Use a domestic-market graph to   a) show the effect of country A’s tariff removal on the world’s price, country A’s import price, import quantity, consumer surplus, producer surplus, and government revenue. b) identify country A’s net welfare change as a result of its tariff removal. Is country A unambiguously better off? c) Use a different graph to show how foreign producers will be affected by country A’s tariff removal? d) What factor determines the level of optimal tariff for country A?   Please make sure to graph fpr both parts "a" and "c"