Macm The figure describes the Laotian market for cheese where free trade is allowed. Suppose the world price of cheese is so per pound and that Laos imposes an import tariff of $2 per pound on foreign cheese. Move the price line to describe the new price with the tariff and place the consumer surplus (CS) and producer surplus (PS) areas to describe the new welfare situation. (penod and g) asap to 222222. 16 14 12 10 Laotian market for cheese 24 Domestic supply Price line Domestic demand 20 02 36 40 CS PS

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