Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. 2. Effects of a tariff on international tradeThe following graph shows the domestic supply of and demand for soybeans in Venezuela. Venezuela is open to international trade of soybeanswithout any restrictions. The world price (Pw) of soybeans is $545 per ton and is represented by the horizontal black line. Throughout this problem,assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transactioncosts associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible beforeany exporting or importing takes place.Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per ton)950905860815770725680635590545500SupplyDemandP.W0 50 100 150 200 250 300 350 400 450 500QUANTITY (Thousands of tons of soybeans)A tariff set at this level would raise $Graph Input ToolMarket for Soybeans in VenezuelaPrice(Dollars per ton)Domestic Demand(Thousands of tonsof soybeans)If Venezuela is open to international trade of soybeans without any restrictions, it will importthe full value for your answer, accounting for the horizontal axis units.)545450Domestic Supply(Thousands of tonsof soybeans)in revenue for the Venezuelan government.?50Suppose the Venezuelan government wants to reduce imports to exactly 200,000 tons of soybeans to help domestic producers. A tariff of $per ton will achieve this.tons of soybeans. (Note: Be sure to enter

This can be defined as a concept that shows the amount of tax or duty imposed by the central…

If Venezuela is open to international trade of soybeans without any restrictions, it will import the full value for your answer, accounting for the horizontal axis units.) Suppose the Venezuelan government wants to reduce imports to exactly 200,000 tons of soybeans to help domestic producers. A tariff of $ per ton will achieve this. A tariff set at this level would raise tons of soybeans. (Note: Be sure to en in revenue for the Venezuelan government.

If Venezuela is open to international trade of soybeans without any restrictions, it will import the full value for your answer, accounting for the horizontal axis units.) Suppose the Venezuelan government wants to reduce imports to exactly 200,000 tons of soybeans to help domestic producers. A tariff of $ per ton will achieve this. A tariff set at this level would raise tons of soybeans. (Note: Be sure to en in revenue for the Venezuelan government.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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