Homework Help is Here – Start Your Trial Now!
Business
Economics
Q ☑ The graph on the right represents the domestic supply and demand for coal a number of years ago. In the absence of trade, the equilibrium price is $ tons. (Round your responses to two decimal places.) per ton and the equilibrium quantity is million The government opens the market to free trade, and Indonesia enters the market, pricing coal at $1 per ton. The domestic price of coal will now be $ The new domestic quantity supplied will be be per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded will million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will be million tons. (Enter your response as an integer.) After numerous complaints from domestic coal producers, the government imposes an import quota of 50 million tons on Indonesian coal. The domestic price of coal is now $ The new domestic quantity supplied is per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded is million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will now be million tons. (Enter your response as an integer.) The government will receive $ integer.) million in revenue from the import quota. (Enter your response as an Indonesian producers will receive $ million in revenue with the import quota. (Enter your response as an integer.) Price per ton $4.00- $3.50 S $3.00 $2.50 $2.00 $1.50- $1.00- $0.50- $0.00+ 0 50 100 D 150 200 250 300 350 400 Millions of tons

Q ☑ The graph on the right represents the domestic supply and demand for coal a number of years ago. In the absence of trade, the equilibrium price is $ tons. (Round your responses to two decimal places.) per ton and the equilibrium quantity is million The government opens the market to free trade, and Indonesia enters the market, pricing coal at $1 per ton. The domestic price of coal will now be $ The new domestic quantity supplied will be be per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded will million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will be million tons. (Enter your response as an integer.) After numerous complaints from domestic coal producers, the government imposes an import quota of 50 million tons on Indonesian coal. The domestic price of coal is now $ The new domestic quantity supplied is per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded is million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will now be million tons. (Enter your response as an integer.) The government will receive $ integer.) million in revenue from the import quota. (Enter your response as an Indonesian producers will receive $ million in revenue with the import quota. (Enter your response as an integer.) Price per ton $4.00- $3.50 S $3.00 $2.50 $2.00 $1.50- $1.00- $0.50- $0.00+ 0 50 100 D 150 200 250 300 350 400 Millions of tons

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter34: Globalization And Protectionism
Section: Chapter Questions
Problem 39CTQ: From the Work It Out Effects of Trade Barriers, you can see that a tariff raises the price of...
See similar textbooks
icon
Related questions
Question

everything is in image (29)

Q ☑ The graph on the right represents the domestic supply and demand for coal a number of years ago. In the absence of trade, the equilibrium price is $ tons. (Round your responses to two decimal places.) per ton and the equilibrium quantity is million The government opens the market to free trade, and Indonesia enters the market, pricing coal at $1 per ton. The domestic price of coal will now be $ The new domestic quantity supplied will be be per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded will million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will be million tons. (Enter your response as an integer.) After numerous complaints from domestic coal producers, the government imposes an import quota of 50 million tons on Indonesian coal. The domestic price of coal is now $ The new domestic quantity supplied is per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded is million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will now be million tons. (Enter your response as an integer.) The government will receive $ integer.) million in revenue from the import quota. (Enter your response as an Indonesian producers will receive $ million in revenue with the import quota. (Enter your response as an integer.) Price per ton $4.00- $3.50 S $3.00 $2.50 $2.00 $1.50- $1.00- $0.50- $0.00+ 0 50 100 D 150 200 250 300 350 400 Millions of tons
Transcribed Image Text:Q ☑ The graph on the right represents the domestic supply and demand for coal a number of years ago. In the absence of trade, the equilibrium price is $ tons. (Round your responses to two decimal places.) per ton and the equilibrium quantity is million The government opens the market to free trade, and Indonesia enters the market, pricing coal at $1 per ton. The domestic price of coal will now be $ The new domestic quantity supplied will be be per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded will million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will be million tons. (Enter your response as an integer.) After numerous complaints from domestic coal producers, the government imposes an import quota of 50 million tons on Indonesian coal. The domestic price of coal is now $ The new domestic quantity supplied is per ton. (Round your response to two decimal places.) million tons and the new domestic quantity demanded is million tons. (Enter your responses as integers.) The amount of coal imported from Indonesia will now be million tons. (Enter your response as an integer.) The government will receive $ integer.) million in revenue from the import quota. (Enter your response as an Indonesian producers will receive $ million in revenue with the import quota. (Enter your response as an integer.) Price per ton $4.00- $3.50 S $3.00 $2.50 $2.00 $1.50- $1.00- $0.50- $0.00+ 0 50 100 D 150 200 250 300 350 400 Millions of tons
Expert Solution
steps

Step by step

Solved in 2 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Microeconomics: Private and Public Choice (MindTa…
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics: Private and Public Choice (MindTa…
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
SEE MORE TEXTBOOKS