Homework Answers
Answer:
H; F
Producer surplus lies between the supply curve and price line (in this case $6 price line). So, the area of H gets added to as producer surplus to the existing area of I. Increased producer surplus is the area of H.
Tariff revenue is given by the area of F. It is the area above the price line of $3 and below the $6 price line because tariff is the amount added to the existing $3 (world price) line. So the area of F indicates tariff revenue.
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