If the free trade price is IP and this country imposes a trade tariff of $3, the amount of tariff revenue the government will collect is shown by (a) area (a) in this graph (b) area (b) in this graph (c) areas (c) + (d) (d) areas (b) + (c) + (d) (e) areas (a) + (b) + (c) + (d) P25252015aC1050SeP*bIPD00 3 6 9 1215Q18 21 24

Area b represents the tariff revenue of the government.Option B is the right answer while a…

Answered: P 25 25 20 15 a C 10 50 S e P* b IP D 0…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assignment 1 : Tools of Market Access Analysis Use the following data to compute Balassa Indices to determine the Revealed Comparative Advantage for the products listed in the table below. Rum Sugar Bananas Rice Total Exports of Product by country 1 in 2021(thousand dollars) 1200 900 600 850 Total Exports of Country 1 in 2021 (thousand dollars) 600,000 600,000 600,000 600,000 World exports of Product in 2021 (thousand dollars) 1,200,000 1,600,000 900,000 1,500,000 World exports of all Products in 2021 (thousand dollars) 250,500,000 250,500,000 250,000,000 250,000,000 RCA Rank the products in the order of comparative advantage. Which product is the country best advised to specialize in?
Calculate the loss in mexico consumer surplus due to the tariff. A) $225 B)$265 C)$285 D)$325 Give me correct answer with calculation and full explanation otherwise i give downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
The aim of a tariff is to: (a) maximise total surplus. (b) protect domestic consumers. (c) protect domestic producers. (d) create deadweight loss.
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Q1: Using a domestic-market demand- and supply-curve graph, (a) show the impact of tariff on a small country's import price, domestic demand, domestic supply, import quantity, consumer surplus, producer surplus, government revenue, and total welfare; (b) Is the country unambiguously worse off as a result of the tariff? (c) In the same graph, show how to achieve the same import quantity with an import quota; (d) When would the tariff and the import quota lead to the same amount of welfare change? (e) How would the answers to (a) and (b) change for a large country?
00 7 F. PRICE (Dollars per ton) 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Honduras. The world price (Pw) of soybeans is $530 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 2. Domestic Demand Domestic Supply 770 740 710 680 650 620 06 P, 530 MacBook Pro Search or type URL 4. 51 9.
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Price $22 $16 Home market S 10 14 22 I 26 D Quantity pw + 1 PW Who gains and who loses from the tariff in Home? To find out, determine the changes in consumer surplus (CS), producer surplus (PS) and tariff revenue as the country moves from free trade to the tariff equilibrium. Show the changes in the diagram and calculate the numerical values of them. (Ctrl)
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)

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		(a) area (a) in this graph
		(b) area (b) in this graph
		(c) areas (c) + (d)
		(d) areas (b) + (c) + (d)
		(e) areas (a) + (b) + (c) + (d)

P 25 25 20 15 a C 10 50 S e P* b IP D 0 0 3 6 9 12 15 Q 18 21 24