Refer to the figure below and answer the questions that follow: 2. Refer to the figure below and answer the questions that follow:World marketU.S. marketSworldSus.0.400.300.300.20Dus.Dworld0 26 8 10 12 Q4Millions of apples per dayMillions of apples per daya. At the world price of 30 cents per apple the United States importsmillion applesper day.b. If a 10-cent-per-apple tax is levied on imported apples, the United States will importmillion apples per day.Assume that initially there is free trade. If the United States then imposes a 10-cent tax perС.apple what are the changes that happen in the market?Price ($)

2. Refer to the figure below and answer the questions that follow: World market U.S. market Suorld 0.40 0.30 0.30 0.20 Dus. 0 2 10 12 Q Millions of apples per day Millions of apples per day a. At the world price of 30 cents per apple the United States imports per day. million apples b. If a 10-cent-per-apple tax is levied on imported apples, the United States will import million apples per day. c. Assume that initially there is free trade. If the United States then imposes a 10-cent tax per apple what are the changes that happen in the market? Price ($) Price ($)

2. Refer to the figure below and answer the questions that follow: World market U.S. market Suorld 0.40 0.30 0.30 0.20 Dus. 0 2 10 12 Q Millions of apples per day Millions of apples per day a. At the world price of 30 cents per apple the United States imports per day. million apples b. If a 10-cent-per-apple tax is levied on imported apples, the United States will import million apples per day. c. Assume that initially there is free trade. If the United States then imposes a 10-cent tax per apple what are the changes that happen in the market? Price ($) Price ($)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 2
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