D. The figure below represents a small trading country whose production and consumption do not...
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Accounting
D. The figure below represents a small trading country whose production and consumption do not affect the world price of aluminum (the traded commodity in this case). S Pw+t=8 t-4 Pw D 5 12 15 21 Tons A tariff (a tax) oft = $4 / Ton is placed on imported aluminum. On the graph illustrate and label the effects of the tariff (for all questions, give the dollar value and show your work) 1. How do aluminum imports change 2. How does domestic consumption of aluminum change? 3. How does domestic production of aluminum change? 4. How much tax revenue from the tariff does the government collect
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