i dont need the graph just the answers Suppose Bolivia is open to free trade in

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i dont need the graph just the answers

Suppose Bolivia is open to free trade in the world market for wheat. Because of Bolivia's small size, the demand for and supply of wheat in Bolivia do not affect the world price. The following graph shows the domestic wheat market in Bolivia. The world price of wheat is PW=$250 per ton On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilibrium. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus (PS) 530Domestic Demand Domestic S 490 CS 450 370 330 u 290 250 170 130 0 4 8 12 16 20 24 28 32 38 40 QUANTITY (Thousands of tons of wheat) If Bolivia allows international trade in the market for wheat, it will import tons of wheat. Now suppose the Bolivian government decides to impose a tariff of 40 on each imported ton of wheat. After the tariff, the price Bolivian consu livian consumers pay for a ton of wheat is and Bolivia will import tons of wheat. Show the effects of the $40 tariff on the following graph

Explanation / Answer

Imports= Difference between supply and demand at Pw= (28-12)= 16,000 tins
post tariff, Prics=250+40 = 290$ per ton
Bolivia will import= (24-16)=8000 tons
Consumer surplus
Under free trade= 0.5*20*200=2000
Under a tariff= 0.5*24*240 = 2880
producer Surplus
Under free trade= 0.5*330*20=3300$
under a tariff= 0.5*290*24= 3480$
Government revenue under a tariff=(24-16)*(290-250)= 8*40=320
Bolivia's consumer surplus increases 880$, producer surplus by 180$ and government collects 320 $.

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