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Need help with tariff question (1 Viewer)

KingTings

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Joined
Nov 29, 2017
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89
Location
Sydney, NSW
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Male
HSC
2019
Revenue of foreign producers = revenue x price.
Since the tariff is making the price move from $10 to $15, demand is lost.
The value of this lost demand is shown by the difference in revenue --> (200 x 15) - (100 x 10)
= 2000
 

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