Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. Because this country exports steel, the world price is represented by(p1 or p2) . Suppose that a “pro-trade” government decides to subsidize the export of steel by paying $10 for each ton sold abroad.With this export subsidy, the price paid by domestic consumers is $______ per ton, and the price received by domestic producers is$_______per ton. The quantity of steel consumed by domestic consumers (reamins unchanged, decrease, and increase) , the quantity of steel produced by domestic producers (reamins unchanged, decrease, and increase) , and the quantity of steel exported (reamins unchanged, decrease, and increase) . True or False: With the export subsidy, this country will start importing steel from abroad. Under the export subsidy, consumer surplus is $_______and producer surplus is$______. Government revenue (increase or decrease) by$_______ . As a result, total surplus (remains unchanged, decrease, increase) . AutoSaveOffDocument1 - WordO SearchWilliams, LaToya WL困Home - HomeB 2-1 Quiz - ECO-202-T2912 Macre xb Answered: In the following table, x+FileDesignReferencesMailingsReviewViewHelpFoxit PDFA ShareP CommentsA bartleby.com/questions-and-answers/in-the-following-table-select-the-amount-of-each-good-that-each-country-exports-and-imports-in-the-b/e089e48c-4dc5-4980-aba8-bfc449e116c6HomeInsertLayoutO Find -X CutB CopyAaBbCcDc AaBbCcDc AaBbC AaBbCcC AaB1 Normal T No Spac. Heading 1Calibri (Body) v 11 - A A Aa- Ao= bartlReplaceA SelectPasteDictateBIU v ab x, x A - Iv A vHeading 2TitleS Format PainterQuestion submitted! Feel free to ask another - you'll be notified when it's answered. OClipboardFontParagraphStylesEditingVoicee Q&A LibrSubjectAnswers from an expert in asfast as 30 minutes!*Economics940 /5,000 [ConsumptioQuestion Asking Tips田。domestic producers (reamins unchanged, decrease, and increase) ,and the quantity of steel exported (reamins unchanged, decrease, andincrease)Ix2X2Ix- Ask one academic question at a timeGains from 1- Keep questions specific and include alldetailsIncrease in C- Contact Support for textbook, writing, oraccount helpDemandSupply100True or False: With the export subsidy, this country will start importingsteel from abroad.90Triangle80Like you, we deeply value honesty andintegrity. Learn about our honor code,Under the export subsidy, consumer surplus is $.surplus is$.Land producerGovernment revenue (increase or decrease) by$_Polygon*Response times may vary by subject andquestion complexity. Median response time isExp5034 minutes for paid subscribers and may be40. As a result, total surplus (remains unchanged, decrease, increase)longer for promotional offers.30**Limited time offer.20Step 1A 0/2 Images10From the abc100200 300400 500 000 700 800 0 1000Live Chat with an ExpertAsk an ExpertQuantity of Steel (Tons). Оpporproduc• With tr• Felicid• The fin• The neA Start chat nowSubmit your question|Get on-demand help from a liveAnswers in as fast as 30 minutes*tutor, at no additional cost**Step 29:33 AM11/4/2021Page 1 of 1134 wordsL Display Settings D Focus100%9:33 AMHomec..NC-RO.Inbox -..HCHB .Clinica.Order .A H BRO...Answe.MindT.Docu.COPY .11/4/2021Price of Steel (Dollars per ton)

DISCLAIMER “Since you have asked multiple question, we will solve the first THREE question for you as per guidelines. If you want any specific question to be solved then please specify the question number or post only that question.” SOLUTION: 1) Because this country exposts steel, The World Price is Represented by p2 ( that is $70)2) with this expost subsidy, The price paid by domestic consumes is $70 per ton, and the price received by domestic producers is $80 per ton. Reasons-domestic consumers will pay $70 because producer want to sell this product in international market and They are not going to Reduce the price. Domestic Producer will receive $80 i.e. $70+ $10. = $80. as $10 is the subsidy provide by the government by exporting of goods. 3) The quantity of steel consumed by the domestic consumers Will Remain unchanged. Reason:- Export subsidy does not change the price for Domestic consumes. 4) The quantity of steel produced by domestic producers Will Increase /from 600 to 700. and the quantity of steel exported will Increase from 400 to 600 (tons).

Answered: Consider a small country that exports…

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Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel.

Because this country exports steel, the world price is represented by(p1 or p2) .

Suppose that a “pro-trade” government decides to subsidize the export of steel by paying $10 for each ton sold abroad.

With this export subsidy, the price paid by domestic consumers is $______

per ton, and the price received by domestic producers is$_______per ton. The quantity of steel consumed by domestic consumers (reamins unchanged, decrease, and increase) , the quantity of steel produced by domestic producers (reamins unchanged, decrease, and increase) , and the quantity of steel exported (reamins unchanged, decrease, and increase) .

True or False: With the export subsidy, this country will start importing steel from abroad.

Under the export subsidy, consumer surplus is $_______and producer surplus is$______. Government revenue (increase or decrease) by$_______

. As a result, total surplus (remains unchanged, decrease, increase) .

AutoSave
Off
Document1 - Word
O Search
Williams, LaToya WL
困
Home - Home
B 2-1 Quiz - ECO-202-T2912 Macre x
b Answered: In the following table, x
+
File
Design
References
Mailings
Review
View
Help
Foxit PDF
A Share
P Comments
A bartleby.com/questions-and-answers/in-the-following-table-select-the-amount-of-each-good-that-each-country-exports-and-imports-in-the-b/e089e48c-4dc5-4980-aba8-bfc449e116c6
Home
Insert
Layout
O Find -
X Cut
B Copy
AaBbCcDc AaBbCcDc AaBbC AaBbCcC AaB
1 Normal T No Spac. Heading 1
Calibri (Body) v 11 - A A Aa- Ao
= bartl
Replace
A Select
Paste
Dictate
BIU v ab x, x A - Iv A v
Heading 2
Title
S Format Painter
Question submitted! Feel free to ask another - you'll be notified when it's answered. O
Clipboard
Font
Paragraph
Styles
Editing
Voice
e Q&A Libr
Subject
Answers from an expert in as
fast as 30 minutes!*
Economics
940 /5,000 [
Consumptio
Question Asking Tips
田。
domestic producers (reamins unchanged, decrease, and increase) ,
and the quantity of steel exported (reamins unchanged, decrease, and
increase)
I
x2
X2
Ix
- Ask one academic question at a time
Gains from 1
- Keep questions specific and include all
details
Increase in C
- Contact Support for textbook, writing, or
account help
Demand
Supply
100
True or False: With the export subsidy, this country will start importing
steel from abroad.
90
Triangle
80
Like you, we deeply value honesty and
integrity. Learn about our honor code,
Under the export subsidy, consumer surplus is $.
surplus is$.
Land producer
Government revenue (increase or decrease) by$_
Polygon
*Response times may vary by subject and
question complexity. Median response time is
Exp
50
34 minutes for paid subscribers and may be
40
. As a result, total surplus (remains unchanged, decrease, increase)
longer for promotional offers.
30
**Limited time offer.
20
Step 1
A 0/2 Images
10
From the abc
100
200 300
400 500 000 700 800 0 1000
Live Chat with an Expert
Ask an Expert
Quantity of Steel (Tons)
. Оppor
produc
• With tr
• Felicid
• The fin
• The ne
A Start chat now
Submit your question
|
Get on-demand help from a live
Answers in as fast as 30 minutes*
tutor, at no additional cost**
Step 2
9:33 AM
11/4/2021
Page 1 of 1
134 words
L Display Settings D Focus
100%
9:33 AM
Homec..
NC-RO.
Inbox -..
HCHB .
Clinica.
Order .
A H BRO...
Answe.
MindT.
Docu.
COPY .
11/4/2021
Price of Steel (Dollars per ton)

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