Tarrif revenue generated is equal to the increase in the imports enlarging the tax base using import demand elasticilty.
A tarrif is a as tax on imported goods with reference to domestic products.
The production that has been imported ,government may choose to restrict competititon by applying tarrif which helps to create an equilibrium price.
Imposing of tarrif worth $25 on imports would help to reduce domestic producer's pressure upon industry generating an income .
Consumers will face higher price whereas the producers would be able to sell more in the trade creating a balance.
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