Price ($ per car) 39,500 20,000 17,000 3,000 Marginal social side benefits from domestic production ($ per car) 7 8.5 7 8.5 13 15 Sd Do Tariff Quantity (thousands of cars per year) MSSB Quantity (thousands of cars per year) Question 1. In the diagram above, area t (which includes both dark and light shaded area) is $4 million. a. What is the gain/ loss to the country from imposition of a $3,000 tariff on import of cars? b. What is the gain/loss to it from a $3,000 subsidy per car on domestic production of cars?

Price ($ per car) 39,500 20,000 17,000 3,000 Marginal social side benefits from domestic production ($ per car) 7 8.5 7 8.5 13 15 Sd Do Tariff Quantity (thousands of cars per year) MSSB Quantity (thousands of cars per year) Question 1. In the diagram above, area t (which includes both dark and light shaded area) is $4 million. a. What is the gain/ loss to the country from imposition of a $3,000 tariff on import of cars? b. What is the gain/loss to it from a $3,000 subsidy per car on domestic production of cars?

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter6: Population Health

Section: Chapter Questions

Problem 8QAP

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