Price Use the following graph, where Sd and Dd are the domestic supply and demand for a product and P is the world price of that product, to answer the next question. P S Sa+Q P E G H F Pe K Dd 0 V W x y Quantity Z Sd+Q is the product supply curve after an import quota is imposed. The effect of the import quota on domestic price and domestic consumption is A) the same as that of a tariff of P₁-Pc. B) the same as that of a tariff of Pa-Pt- the same as that of a tariff of Pa-Pc.

The country of Pepperland exports steel to the Land of Submarines. Information for the quantity demanded (Qd) and quantity supplied (Qs) in each country, in a world without trade, are given in Table 34.6 and Table 34.7. What would be the equilibrium price and quantity in each country in a world without trade? How can you tell? What would be the equilibrium price and quantity in each country if trade is allowed to occur? How can you tell? Sketch two supply and demand diagrams, one for each country, in the situation before trade. On those diagrams, show the equilibrium price and the levels of exports and imports in the world after trade. If the Land of Submarines imposes an anti- dumping import quota of 30, explain in general terms whether it will benefit or injure consumers and producers in each country. Does your general answer change if the Land of Submarines imposes an import quota of 70?

How would direct subsidies to key industries be preferable to tariffs or quotas?

Show graphically that for any tariff, there is an equivalent quota that would give the same result. What would be the difference, then, between the two types of trade barriers? Hint: It is not something you can see from the graph.

Pls do from c) to i)

Using the graph, assume that the government imposes a $1 tariff on hammers, Answer the following questions given this information, (see the attached pictures.)

Assume the United States is an importer of televisionsand there are no trade restrictions. U.S. consumersbuy 1 million televisions per year, of which 400,000 areproduced domestically and 600,000 are imported.a. Suppose that a technological advance amongJapanese television manufacturers causes theworld price of televisions to fall by $100. Draw agraph to show how this change affects the welfareof U.S. consumers and U.S. producers and how itaffects total surplus in the United States.b. After the fall in price, consumers buy 1.2 milliontelevisions, of which 200,000 are produced domesticallyand 1 million are imported. Calculate thechange in consumer surplus, producer surplus,and total surplus from the price reduction.c. If the government responded by putting a$100 tariff on imported televisions, what wouldthis do? Calculate the revenue that would beraised and the deadweight loss. Would it be agood policy from the standpoint of U.S. welfare?Who might support the policy?d. Suppose that the…

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Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. ecause this country exports steel, the world price is represented by    .   Suppose that a “pro-trade” government decides to subsidize the export of steel by paying $10 for each ton sold abroad. With this export subsidy, the price paid by domestic consumers is   per ton, and the price received by domestic producers is   per ton. The quantity of steel consumed by domestic consumers    , the quantity of steel produced by domestic producers    , and the quantity of steel exported    .   True or False: With the export subsidy, domestic producers will sell steel to domestic consumers and sell the rest abroad. True   False     Under the export subsidy, consumer surplus is   and producer surplus is   . Government revenue    by (increases or Decreases)   . As a…

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