Refer to the information provided in Figure 4.4 below to answer the question(s) that follow. 
Figure 4.4
-Refer to Figure 4.4. Assume that initially there is free trade. If the United States then imposes a $25 tariff per barrel of imported oil,
Definitions:
Monopolistically Competitive Markets
Markets characterized by many sellers offering products that are similar but not identical, allowing for some degree of market power and price differentiation.
Product Differentiation
This is a strategy where companies distinguish their products from those of competitors on bases such as quality, design, or customer service.
Product Differentiation
A marketing strategy that businesses use to distinguish their products from similar offerings, through features, branding, quality, or other attributes.
Excess Capacity
The situation in which a firm is producing at a lower scale of output than it has been designed for, typically because of declining demand.
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