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  3. 1 efficiency and tariffs below is a chart that compares...

Question: 1 efficiency and tariffs below is a chart that compares...

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1. Efficiency and Tariffs: Below is a chart that compares current policy utility regarding condensed milk with three alternatives a) Which policy option(s), if any, would be Pareto efficient shifts, why? b) Which policy option(s), if any, would be most (additive)utilitarian, why? c) Which policy option(s), if any, would best satisfy Rawlsian notions of justice, why? d) Which policy option(s), if any, would best satisfy those espousing a multiplicative utility function, why might this option be justified? e) Why might a policy maker choose the tariff increase option? Utility Consumers Domestic Producers Foreign Producers Current System Free Trade Tariff Increase Tariff Decrease 4 4 6

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