Suppose that Congress imposes a tariff on imported autos to protect the U.S. auto
Chapter 9, Problem Problems and Applications 9.3(choose chapter or problem)
Suppose that Congress imposes a tariff on imported autos to protect the U.S. auto industry from foreign competition. Assuming that theUnited States is a price taker in the world automarket, show the following on a diagram: thechange in the quantity of imports, the loss toU.S. consumers, the gain to U.S. manufacturers,government revenue, and the deadweightloss associated with the tariff. The loss toconsumers can be decomposed into three pieces:a gain to domestic producers, revenue for thegovernment, and a deadweight loss. Use yourdiagram to identify these three pieces.
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