sp25-econ101 econ101
Lecture 10: Trade, tariffs, and subsidies Lecture 10: Trade, tariffs, and subsidies
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Opening a market to trade
Tariff accounting
Subsidies and policy arguments
Figures from the lecture
A simple example
Market for avocados in autarky
Market for avocados with imports
Winners and losers
Effects of a tariff (graphically)
Effects of a tariff (graphically)
Loss of consumer surplus
Gain in producer surplus
Government revenue
Net loss
Why trade protections?
Why trade protections?
Why trade protections?