OM zm Bbm C W WW age.com/static/nb/ui/evo/index.html?deploymentId=5981412282275864594790208&elSBN 9780357133576&snapshotid=39... ps s W S Homework (Ch 09) X BAGA+ Mon Jun New Chrome available Suppose Bangladesh is open to free trade in the world market for maize. Since Bangladesh is small relative to the international market, the demand for and supply of maize in Bangladesh have no impact on the world price. The following graph shows the domestic market for maize in Bangladesh. The world price of a ton of maize is Pw = $800. On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilibrium. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus (PS). PRICE (Dollars per ton) 3 1280 Domestic Demand Domestic Supply 1220 1160 1100 1040 980 920 860 800 740 680 25 50 75 100 125 150 QUANTITY (Tons of maize) 200 225 250 24 A PS MacBook Pro music zoom Cancer Create % & 4 5 6 7 8 9 0 R T Y D D E H B N M K 0 P 7 11 ****** zm Bb zm W W .com/static/nb/ui/evo/index.html?deploymentid=5981412282275864594790208&elSBN 9780357133576&snapshotid=39... ☆ G BAGA+ New Chrome Homework (Ch 09) Because Bangladesh participates in international trade in the market for maize, it will import tons of maize. Now suppose the Bangladeshi government decides to impose a tariff of $60 on each imported ton of maize. Under the tariff, the price Bangladeshi consumers pay for a ton of maize becomes $ and Bangladesh will import tons of maize. 3 Use the following graph to show the effects of the $60 tariff. Use the black line (plus symbol) to indicate the world price plus the tariff. Then, use the green points (triangle symbols) to show the consumer surplus with 'the tariff and the purple triangle (diamond symbols) to show the producer surplus with the tariff. Lastly, use the orange quadrilateral (square symbols) to shade the area representing government revenue received from the tariff and the tan points (rectangle symbols) to shade the areas representing deadweight loss (DWL) caused by the tariff. PRICE (Dollars per ton) 1280 Domestic Demand Domestic Supply 1220 1160 1100 1040 980 920 860 24 tval Pw World Price Plus Tariff CS PS ? A 2000 music MacBook Pro с G Search or type URL 64 LO 5 R T 66 & 7 8 9 0 C Cancer Create C P D F G H K L

OM zm Bbm C W WW age.com/static/nb/ui/evo/index.html?deploymentId=5981412282275864594790208&elSBN 9780357133576&snapshotid=39... ps s W S Homework (Ch 09) X BAGA+ Mon Jun New Chrome available Suppose Bangladesh is open to free trade in the world market for maize. Since Bangladesh is small relative to the international market, the demand for and supply of maize in Bangladesh have no impact on the world price. The following graph shows the domestic market for maize in Bangladesh. The world price of a ton of maize is Pw = $800. On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilibrium. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus (PS). PRICE (Dollars per ton) 3 1280 Domestic Demand Domestic Supply 1220 1160 1100 1040 980 920 860 800 740 680 25 50 75 100 125 150 QUANTITY (Tons of maize) 200 225 250 24 A PS MacBook Pro music zoom Cancer Create % & 4 5 6 7 8 9 0 R T Y D D E H B N M K 0 P 7 11 ****** zm Bb zm W W .com/static/nb/ui/evo/index.html?deploymentid=5981412282275864594790208&elSBN 9780357133576&snapshotid=39... ☆ G BAGA+ New Chrome Homework (Ch 09) Because Bangladesh participates in international trade in the market for maize, it will import tons of maize. Now suppose the Bangladeshi government decides to impose a tariff of $60 on each imported ton of maize. Under the tariff, the price Bangladeshi consumers pay for a ton of maize becomes $ and Bangladesh will import tons of maize. 3 Use the following graph to show the effects of the $60 tariff. Use the black line (plus symbol) to indicate the world price plus the tariff. Then, use the green points (triangle symbols) to show the consumer surplus with 'the tariff and the purple triangle (diamond symbols) to show the producer surplus with the tariff. Lastly, use the orange quadrilateral (square symbols) to shade the area representing government revenue received from the tariff and the tan points (rectangle symbols) to shade the areas representing deadweight loss (DWL) caused by the tariff. PRICE (Dollars per ton) 1280 Domestic Demand Domestic Supply 1220 1160 1100 1040 980 920 860 24 tval Pw World Price Plus Tariff CS PS ? A 2000 music MacBook Pro с G Search or type URL 64 LO 5 R T 66 & 7 8 9 0 C Cancer Create C P D F G H K L

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 8SCQ: How does the cost of saving jobs in protected industries compare to the workers wages and salaries?

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