Suppose that the equations S = 2P and D = 6 – P represent a small country’s home supply and home demand curves.

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Suppose that the equations S = 2P and D = 6 – P represent a

small country’s home supply and home demand curves. If the

government imposed a 50% tariff on imports, how much

revenue would it collect as a result of the tariff? (Note: It is

possible to consume partial units of this product, such as 2.5

units.)

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