The accompanying table gives domestic supply and demand schedules for a product Suppose that the...
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The accompanying table gives domestic supply and demand schedules for a product Suppose that the world price of the product is 1 Quantity Supplied Domestic Price Quantity Demanded Domestic 5 2 4 4 7 12 10 7 4 1 3 2 1 O 1 unit and 15 units O 7 units and 4 units O indeterminate 11 16 With a 1 per unit tariff the quantities sold by foreign and domestic producers respectively will be
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