Agriculture Reference
In-Depth Information
e
s
= price elasticity of supply;
t' = nominal tariff rate;
V' = value of domestic production at domestic prices.
NEL
c
= 0.5×n
d
×t'
2
×W'
(A.21)
where:
NEL
c
= deadweight loss in consumption;
n
d
= price elasticity pf demand;
t' = nominal tariff rate;
W' = value of domestic consumption at domestic prices.
WG
p
= t'V'-NEL
p
(A.22)
where:
WG
p
= change in producer surplus;
t' = nominal tariff rate;
V' = value of domestic production at domestic prices;
NEL
p
= deadweight loss in production.
WG
c
= -(t'W'+NEL
c
)
(A.23)
where:
WG
c
= change in consumption surplus;
t' = nominal tariff rate;
W' = value of domestic consumption at domestic prices;
NEL
c
= deadweight loss in consumption.
∆GR = t'(W'-V')
(A.24)
where:
∆GR = change in revenue;
t' = nominal tariff rate;
W' = value of domestic consumption at domestic prices;
V' = value of domestic production at domestic prices.
Loss per capita = WG
c
/total population
(A.25)
where:
WG
c
= change in consumption surplus.
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