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TARIFF - Coggle Diagram

- - - - domestic consumption decrease 2. Domestic production increase
- - - - :star: goods expensive
      - :star: consumers purchase more domestic products
    - - domestic producers win
      - government wins (get revenue from the tax)
      - quantity demanded (domestic consumers) decrease
    - - Domestic producers lose
      - Domestic workers lose job
      - Foreign producers and domestic consumers win
- - - - total producer surplus is measured by the area above the supply curve and below the price