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The united states is an importer of televisions and there are no trade restrictions of Deadweight loss is of 36 million.
As a result of a decrease in world price, CS will increase by 1100000×120 + 0.5×(1400000-1100000)×20 = 132+18 = 150 million
PS decreases by 200000×120+0.5×(500000-200000)×120 = 24+18 = 42 million
TS increases by 150-42 = 108 million
As a result of the tariff, CS will be equal to its previous value
PS will be equal to its previous value
The government will raise revenue of (1100000-500000)×120 = 72 million
Deadweight loss = 0.5×(500000-200000)120 + 0.5(1400000-1100000)×120 = 18+18 = 36 million.
A government is a system or group of humans governing an organized network, generally a kingdom. inside the case of its huge associative definition, government generally consists of legislature, govt, and judiciary. government is a means via which organizational guidelines are enforced, in addition to a mechanism for figuring out coverage. In many countries, the authorities have a kind of charter, a declaration of its governing standards and philosophy.
A government is a device to control a kingdom or community. even as all sorts of corporations have governance, the time period government is often used extra specifically to refer to the approximately 2 hundred independent country-wide governments and subsidiary companies.
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