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At this price the domestic demand and supply curves intersect each other.
So the domestic suppliers will be supplying only 75 million tons of wheat at reduced price.
The total wheat consumption at $40 per ton is 340 million tons.
c. If the government imposes a $10 per ton tariff on all imported wheat the domestic price will
increase to 50 dollar per ton as shown in the diagram.
At this increased price the domestic suppliers will be willing to supply 150 million tons of wheat,
as shown in the diagram the $50 priceline intersects the supply curve at the quantity of 150
million tons.
At this price domestic quantity demanded will be 240 million tons as shown in the diagram, the
price line of $50 touches the demand curve at 240 million tons quantity.
d. The revenue received by Turkish government from $10 per ton tariff