Given the Following Information Pertaining to Large Country a with Respect

question 21

Multiple Choice

Given the following information pertaining to large country A with respect to good X Under free trade and with a tariff in place:
$\begin{array} { l r } \text { domestic price of X under free trade } & \$ 100 \\\text { world price of X under free trade } & \$ 100 \\\text { domestic price of X with tariff in place } & \$ 103 \\\text { world price of X with tariff in place } & \$ 98 \\\text { domestic production of X under free trade } & 40 \text { units } \\\text { domestic production of X with tariff in place } & 50 \text { units } \\\text { consumption of X under free trade } & 100 \text { units } \\\text { consumption of X with tariff in place } & 80 \text { units }\end{array}$
What is the impact of the tariff upon country A's welfare?

• A) loss of $15.
• B) loss of $45.
• C) gain of $15.
• D) gain of $60

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