25 20 15 10 5 0 S 0369 12 15 18 21 e) $13.5 -IP 24 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 heig O a) $3 Ob) $40.5 O c) SO O d) $27

25 20 15 10 5 0 S 0369 12 15 18 21 e) $13.5 -IP 24 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 heig O a) $3 Ob) $40.5 O c) SO O d) $27

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 6CQQ

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Question

25
20
15
10
5
0
S
e) $13.5
-IP
0369 12 15 18 21 24
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 heigh
O a) $3
Ob) $40.5
O c) SO
O d) $27

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