Answer to Question #61154 in Microeconomics for Mud
a) Change in consumer surplus (calculated how)
b)Change in producer surplus (calculated how)
c) Change in total welfare (calculated how)
d) if for each 2000 units of local production 5 jobs are created how much does the creation of each job cost to society?
e) would results change if the local government chose a quota instead of tariff, how much would the equivalent quota be?
Please provide solution with explanation that how you calculated everything and with graph.
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