PRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 + 1 Domestic Supply PW 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of oranges) If Zambia is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ (?) Suppose the Zambian government wants to reduce imports to exactly 200 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Zambian government. per ton

PRICE (Dollars per ton) 980 Domestic Demand 930 880 830 780 730 680 630 580 530 480 + 1 Domestic Supply PW 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of oranges) If Zambia is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ (?) Suppose the Zambian government wants to reduce imports to exactly 200 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Zambian government. per ton

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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▪Figure: The Home and World Markets ▪ The supplied graph shows the case for a tariff imposed by a large country. Home market World market Price I $36 $30 $26 SO 20 40 80 100 Quantity Price C) $160; $120 'D) $120; $120 40 80 X + 1 Imports Q1. (Figure: The Home and World Markets) The terms-of-trade gain is deadweight loss is 'A) $120; $160 'B) $160; $160 and the ↑. 1. ↑. ↑.
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Incorrect Question 1 Suppose Home is a large country whose supply and demand curves are given by the left of the following figures. Demestic Market International Market Price Price X*+t Supply $10 57 Demand s2 12 14 20 26 28 36 12 16 04 Assume that the world price under the free trade was $6 and the government imposed an import tariff of $5 which was shared by domestic consumers and foreign exporters. 1. With the new tariff, home consumers need to pay $ 11 for the goods, foreign exporters receive $ from selling the goods and paying tariff. 2. Under the free trade, consumer surplus was $ 14 and producer surplus was $ 6 3. With $5 tariff, consumer surplus is $ 9 and producer surplus is $ 11 and government tariff revenue is $ 5 4. With tariff, the terms of trade gains is $ 50 and total deadweight loss is $ 8 5. In this case, imposition of tariff increases country's total welfare by $ 5 Need all answers i need to put in the boxes
PRICE (Dollars per ton) 865 Domestic Demand 830 795 760 725 690 655 620 585 550 515 7 0 40 80 Domestic Supply PW 120 160 200 240 280 320 360 400 QUANTITY (Tons of oranges) If Honduras is open to international trade in oranges without any restrictions, it will import A tariff set at this level would raise $ Suppose the Honduran government wants to reduce imports to exactly 160 tons of oranges to help domestic producers. A tariff of $ will achieve this. tons of oranges. in revenue for the Honduran government. per ton
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