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SOLVED: Consider a large country applying a tariff to imports of a good, as represented in the figure below.(a) Home Market(b) World MarketPricePriceX* tNo-trade equilibriumD, QuantityImportsHow does the export supply curve in panel (6) compare with that in the small country case? Explain why these are different.Explain how the tariff affects the price paid by consumers in the importing country and the price received by producers in the exporting country. Use graphs to illustrate how these pri
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