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Domestic supply and demand

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In 2009, the U.S. government imposed a 35% tariff on tires imported from China. This question will ignore the tariff and imports, looking only at U.S. domestic supply and demand. Demand is given by QD = 105 - 1.5P where QD is in millions of tires per year. Supply is QS = 1.5873P - 15.873. If a quota of 20 million tires per year is imposed in this market, consumer surplus will be:

Reference no: EM131065901

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