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a. Using the graph above, how many apricots will the United States import at the world price? thousand tons Now suppose the U.S. government imposes a quota on imported apricots at 40,000 tons. b. Using the graph above, indicate the new market equilibrium with the quota Imposed and the domestic quantity supplied (Q₂). Instructions: Use the tools provided "New Equilibrium" and "Qs + quota" to indicate the new market price, quantity demanded, and domestic quantity supplied with this quota. c. As a consequence of this quota, how many apricots will the United States import now? thousand tons How many apricots will domestic producers supply? thousand tons

a. Using the graph above, how many apricots will the United States import at the world price? thousand tons Now suppose the U.S. government imposes a quota on imported apricots at 40,000 tons. b. Using the graph above, indicate the new market equilibrium with the quota Imposed and the domestic quantity supplied (Q₂). Instructions: Use the tools provided "New Equilibrium" and "Qs + quota" to indicate the new market price, quantity demanded, and domestic quantity supplied with this quota. c. As a consequence of this quota, how many apricots will the United States import now? thousand tons How many apricots will domestic producers supply? thousand tons

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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a. Using the graph above, how many apricots will the United States import at the world price? thousand tons Now suppose the U.S. government imposes a quota on imported apricots at 40,000 tons. b. Using the graph above, indicate the new market equilibrium with the quota imposed and the domestic quantity supplied (Qs). Instructions: Use the tools provided "New Equilibrium" and "Qs+quota" to indicate the new market price, quantity demanded, and domestic quantity supplied with this quota. c. As a consequence of this quota, how many apricots will the United States import now? thousand tons How many apricots will domestic producers supply? thousand tons d. Given your answers above, who will suffer from this quote?
Transcribed Image Text:a. Using the graph above, how many apricots will the United States import at the world price? thousand tons Now suppose the U.S. government imposes a quota on imported apricots at 40,000 tons. b. Using the graph above, indicate the new market equilibrium with the quota imposed and the domestic quantity supplied (Qs). Instructions: Use the tools provided "New Equilibrium" and "Qs+quota" to indicate the new market price, quantity demanded, and domestic quantity supplied with this quota. c. As a consequence of this quota, how many apricots will the United States import now? thousand tons How many apricots will domestic producers supply? thousand tons d. Given your answers above, who will suffer from this quote?
es The graph below shows the market for apricots in the United States, a nation that is open to international trade but is assumed to be a price taker unable to affect the world price of apricots. 1800 1600 1400 Price (dollars per ton) 1200 1000 800 600 400 200 0 Market for Apricots S+quota 20 40 60 80 100 120 140 160 180 Quantity (thousands of tons) Tools 9 New Equilibris Quota 0
Transcribed Image Text:es The graph below shows the market for apricots in the United States, a nation that is open to international trade but is assumed to be a price taker unable to affect the world price of apricots. 1800 1600 1400 Price (dollars per ton) 1200 1000 800 600 400 200 0 Market for Apricots S+quota 20 40 60 80 100 120 140 160 180 Quantity (thousands of tons) Tools 9 New Equilibris Quota 0
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