P* Pw Pdump P S In the graph above, Pw=29, Pdump=17, Q1=6, Q2=9, Q3=13, Q4=20, Q5=22. Germans are able to buy steel on the world market. The graph above shows the German market for Steel. According to the graph above, if US firms dump steel in Germany at a price of Pdump, how will German consumers of steel be affected? Enter the amount of their change in welfare. If they're better off, enter a positive number; if they're worse off, enter a negative number. Round to two decimal places.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter34: Globalization And Protectionism
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Problem 38CTQ: Show graphically that for any tariff, there is an equivalent quota that would give the same result....
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P
P*
Pw
Pdump
S
In the graph above, Pw=29, Pdump-17, Q1=6, Q2-9, Q3=13,
Q4=20, Q5=22.
Germans are able to buy steel on the world market. The graph
above shows the German market for Steel. According to the graph
above, if US firms dump steel in Germany at a price of Pdump, how
will German consumers of steel be affected?
Enter the amount of their change in welfare. If they're better off,
enter a positive number; if they're worse off, enter a negative
number. Round to two decimal places.
120
Transcribed Image Text:P P* Pw Pdump S In the graph above, Pw=29, Pdump-17, Q1=6, Q2-9, Q3=13, Q4=20, Q5=22. Germans are able to buy steel on the world market. The graph above shows the German market for Steel. According to the graph above, if US firms dump steel in Germany at a price of Pdump, how will German consumers of steel be affected? Enter the amount of their change in welfare. If they're better off, enter a positive number; if they're worse off, enter a negative number. Round to two decimal places. 120
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