pf pt price quantity supply (domestic) demand (domestic)
TRANSCRIPT
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
Ss SdSs’ Sd’
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
Ss SdSs’ Sd’
tariff
Import Quantity with Free Trade
Domestic Production
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
Ss SdSs’ Sd’
tariff
Import Quantity with Tariff
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
CS
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
PS
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
CS’
Consumer’s Loss from Tariff
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
PS’
Producer’s Gain from Tariff
Pf
Pt
Price
Quantity
Supply (Domestic)
Demand (Domestic)
World Price/Supply
World Price in Japan with Tariff
Government Revenue from Tariff
Gov’t Rev
Consumer’s Loss (-)
Consumer’s Loss (-)
Producer’s Gain (+)
Consumer’s Loss (-)
Producer’s Gain (+)
Government Revenue (+)
Net Loss to Society or Deadweight Loss (DWL)
Net Loss of Tariff to Importing Country