Discuss consumer surplus producer surplus and total surplus

Reference no: EM133727384

Discussion Post: Types of Surplus & Import Tariff & Quotas

I. Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.

II. What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs.

Reference no: EM133727384

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