Consider the market for ethanol in the United States depicted in the figure to the right. Assume the world price of ethanol is $0.80 per gallon, and at that price the United States can buy as much ethanol as it wants without causing the world price to rise. Now suppose a tariff of $0.80 is imposed by the government. What is the dollar amount of the change in consumer surplus as a result of the tariff? $-4.20 billion. (Enter a numeric response using a real number rounded to two decimal places using the correct sign.) What is the dollar amount of the change in producer surplus as a result of the tariff? $ billion.
