PRICE (Dollars per ton) 1000 900 800 700 600 500 400 300 200 --- 100 0 SK 0 50 100 150 200 250 300 350 QUANTITY (Thousands of tons) D₁ PK PW 400 450 500 SK+Q The equivalent import tariff for Kazakhstan's apple import quota is $ Price with Quota A Change in PS Quota Rents DWL In the previous graph, use the green area (triangle symbol) to shade the area that represents the effect of the quota on domestic producer surplus (PS) relative to domestic producer surplus under free trade. Use the tan quadrilateral (dash symbols) to shade the area that represents the quota rents. Finally, use the black areas (plus symbol) to indicate the deadweight loss (DWL) resulting from the quota's consumption and protective effects. per ton of apples.

PRICE (Dollars per ton) 1000 900 800 700 600 500 400 300 200 --- 100 0 SK 0 50 100 150 200 250 300 350 QUANTITY (Thousands of tons) D₁ PK PW 400 450 500 SK+Q The equivalent import tariff for Kazakhstan's apple import quota is $ Price with Quota A Change in PS Quota Rents DWL In the previous graph, use the green area (triangle symbol) to shade the area that represents the effect of the quota on domestic producer surplus (PS) relative to domestic producer surplus under free trade. Use the tan quadrilateral (dash symbols) to shade the area that represents the quota rents. Finally, use the black areas (plus symbol) to indicate the deadweight loss (DWL) resulting from the quota's consumption and protective effects. per ton of apples.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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