QUESTION 5Figure 9-15PriceperSaddleP₂P₁GB.сD + F.A1D:IQ₁ Q₂BB+D+E+F.E'F1IQ3 Q4TariffDomesticSupplyWorldPriceRefer to Figure 9-15. As a result of the tariff, there is a deadweight loss that amounts toE.DomesticDemandQuantityof Saddles

Figure 9-15 Price per Saddle P₂ P₁ 0 B. G с D + F. D₁ I I Q₁ Q₂ B+D+E+F. B E 1 I 1 I Q3 Q4 Domestic Supply Tariff World Price Refer to Figure 9-15. As a result of the tariff, there is a deadweight loss that amounts to E. Domestic Demand Quantity of Saddles

Figure 9-15 Price per Saddle P₂ P₁ 0 B. G с D + F. D₁ I I Q₁ Q₂ B+D+E+F. B E 1 I 1 I Q3 Q4 Domestic Supply Tariff World Price Refer to Figure 9-15. As a result of the tariff, there is a deadweight loss that amounts to E. Domestic Demand Quantity of Saddles

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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PRICE (Dollars per tonne) 1160 Domestic Demand 1110 1060 1010 960 910 860 810 760 710 660 0 20 40 60 80 100 120 140 160 180 QUANTITY (Tonnes of oranges) and is represented by the horizontal black line. satisfy domestic demand as much as possible before any exporting or importing takes place. price of oranges and that there are no transportation or transaction costs associated Domestic Supply A tariff set at this level would raise $ PW 200 If Zambia is open to international trade in oranges without any restrictions, it will import Suppose the Zambian government wants to reduce imports to exactly 40 tonnes of oranges to help domestic producers. A tariff of $ tonnes of oranges. in revenue for the Zambian government. per tonne will achieve this. Q Search this course
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Price per Saddle Domeslic Supply P2 Tariff World Price P1 G Domestic Demand Q1 Q2 Q3 Q4 Quantity of Saddles With the tariff in place, the total tax revenue equals O (1/2)x(Q2-Q1)x(P2-P1) + (1/2)x(Q4-Q3)x(P2-P1) O P2 x Q3 (P2 - P1) x (Q3 - Q2) O (P2 - P1) x (Q4 - Q1)