20 19 18 17 16 15 14 13 12 11 10 6. 5 4 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is $6, what would be the deadweight loss from a $1 tariff? $1200 $750 $1150 $1000 O O O

20 19 18 17 16 15 14 13 12 11 10 6. 5 4 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is $6, what would be the deadweight loss from a $1 tariff? $1200 $750 $1150 $1000 O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

2 Suppose a firm' s production function is f(x,;x,) = x*x/4, the price for output is p; and the prices for the inputs are w, = 1 and w, = 2. When input 2 is fixed at x,, The short-run factor demand function x, (p,x,) for input 1 is_ and the optimal output is_. O A O D 3 Suppose a firm' s production function is f(x,;x,) = x;*x4, the price for output is p; and the prices for the inputs are w, = 1 and w, =2. The firm' s short-run cost-function c,(y,x,) is _ O A OB + 252 OD i+ 452 4 Suppose a firm' s production function is f(x,;x,) = x;*x/4, the price for output is p; and the prices for the inputs are w, = 1 and w, = 2. The long run supply function and the firm' s cost function are_ and _. O A O B 2VZy O D
You manage a ball-bearing factory for a company that successfully lobbies Congress to place a tariff on imported ball-bearings. As a result: both your company and your customers will be better off your company will be better off, but your customers will be unaffected. O.C. your company will be unaffected, but your customers will be worse off Od. your company will be better off, and your customers will be worse off O a. O b.
Use the graph below and the following information to answer the next question(s). The world price of soybeans is $5.00 per bushel, and the importing country is small enough not to affect the world price. Suppose the government puts a tariff of $1.00 per bushel on soybean imports. How much will be total deadweight loss? 65 60 70 O$ 20 million O$ 80 million O $60 million O$ 30 million 130 140 Q/millions bushels D 62 8 -World price
The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good. Price ($) 70 60 50 40 30 20 10 Multiple noice $250 20 40 60 80 100 120 140 160 180 200 220 240 260 If this economy decides to impose a $15 per unit tariff, what will deadweight loss be? $600 $2,100 S O $3,000 D World Price Quantity
5. At a price of $20, country 2 will a) offer for export 9 units of this product. b) seek to import 9 units of this product. c) choose not to trade. d) increase supply
Based on Figure 48, choose the correct statement. Assume that Nation 2 imposes a quota (30X) on imports of X (an agricultural commodity). Figure 48 Partial equilibrium effects of an import quota Py (S) 25 10 20 25 30 40 50 55 60 65 70 O 1) Given the increase in demand from Dx to D'x, the price of X increases to $2.5, and the quota is 20X. 2) Given the increase in demand from Dx to D'x, the price of X increases to $2.5, and the quota is 55X. 3) Given the increase in demand from Dx to D'x, the price of X increases to $2, and the quota is the same. O 4) Given the increase in demand from Dx to D'x, the price of X increases to $2.5, and the quota is the same.
Price (Dollars per unit) 0 2 4 6 8 10 Quantity Supplied (Units) c. 66 units. d. 71 units. Firm A Firm B Firm C Firm D 24680 O O36925 O∞~46 m050515 0 10 0 12 15 0 8 12 14 16 20 25 Refer to Table 4-4. If these are the only four sellers in the market, then the market quantity supplied at a price of $10 is a. 25 units. b. 41 units.
Please only D and E
Please examine the market for AC units below. In this market, the Home nation has imposed a quota limiting the number of AC units that foreign nations are allowed to export into the Home economy. Based on this diagram, what was the level of that quota? Price $12 $11 $10 59 50 $7 56 55 $4 53 52 51 0 Home Market for AC Units 123 O 3 units Quantity IS 5+Q XX 4 or more units Pw O 1 unit O2 units Consumer Surplus Producer Surplus Consumer Surplus Producer Surplus Price $12 $11 $10 $9 S8 $7 $6 $5 $4 $3 $2 $1 0 International Market for AC Units 1 C Se 2 3 4 5 6 7 8 9 10 Quantity
Question 23 20 19 18 17 16 15 14 13 12 11 10 7 6. 3 2 123 45 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is $6, what would be the deadweight loss from a 51 tariff? $1200 $1000 $750 $1150
answer this one 3. Now, suppose that in addition to the home country opening up to free trade, the foreign country has alsoopened up to free trade. As a result, both firms sell their product in both markets.A) Find each firms’ overall output, market price in each market, and each firms’ overall profitB) Explain what effect free trade has (relative to no trade) on the firms and consumers Suppose a firm operates as a monopoly in the domestic (home) market for a product. The demand for itsproduct is given by the inverse demand function: P = 120 −QD. The company’s costs are: T C = 20Q+ 200and MC = $20.A) Find the firm’s profit-maximizing output and price as a monopoly.B) Find the firm’s total profit in the monopoly market.Suppose the home country open up to free trade…
15. All the following statements regarding the holding of the WTO dispute settlement body in United States - Measures Affecting Cross-Border Supply of Gambling and Betting Services are true exceptA. The dispute settlement body authorized Antigua to retaliate against the United States by violating the intellectual property rights of U.S. companiesB. The United States refused to comply with the dispute settlement bodys opinionC. Antigua claimed that the U.S. restriction on cross-border trade in on-line gambling and betting services violated the commitment to normal trade relations contained within GATSD. Antigua claimed that the U.S. restriction on cross-border trade in on-line gambling and betting services violated the commitment to national treatment contained within GATS