Question 23 20 19 18 17 16 15 14 13 12 11 10 61 2 123 456 78 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is 56, what would be the deadweight loss from a S1 tariff? $1200 $1000 $750 $1150

Question 23 20 19 18 17 16 15 14 13 12 11 10 61 2 123 456 78 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is 56, what would be the deadweight loss from a S1 tariff? $1200 $1000 $750 $1150

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter35: International Trade Restrictions

Section: Chapter Questions

Problem 11E

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20 19 18 17 16 15 14 13 12 11 10 7 4 3 2 1 1 3 4 5 9 10 11 12 13 14 15 16 17 18 19 20 Consider the diagram. Quantity is in thousands. If the world price is $6, what would be the deadweight loss from a $1 tariff? $1200 $750 $1150 $1000
Price 580 260 150 100 40 80 120 200 280 400 Quantity Assume this represents the supply and demand of Vodka Goose in USA before the country opens up international trade. Now, assume free trade opens up and the country begins importing this same good at an international price of $100. the quantity produced domestically in this country will be
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Price of Carnations $14 $400 $100 $500 $200 12- 10- 8 6 4 2 Domestic Supply Tariff World Price Domestic Demand 100 200 300 400 500 600 Quantity of Carnations (in dozens) Refer to the figure above. What is the amount of deadweight loss caused by the tariff?
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PRICE (Dollars per ton) 800 590 560 530 500 470 W 440 410 380 350 Domestic Demand 320 3 D 0 30 60 E Consumer Surplus Producer Surplus C 90 120 150 180 210 QUANTITY (Tons of melons) When Guatemala adjusts its trade policy to allow free trade of melons, the price of one ton of melons in Guatemala becomes $500. At this price, tons of melons will be demanded in Guatemala, and tons will be supplied by domestic suppliers. Therefore, Guatemala will export tons of melons. Using the information from the previous tasks, complete the following table to analyze the welfare effect of allowing free trade. With Free Trade (Dollars) Without Free Trade (Dollars) $ 4 When Guatemala allows free trade, the country's producer surplus by s R F Domestic Supply V 5 T P. G W 240 270 270 300 6 by s and consumer surplus Therefore, the net effect of allowing international trade on Guatemala's total surplus is a Y Consumer Surplus H Producer Surplus & 7 N U J * 8 M 1 ( 9 K O O L P of : ; { [ ?
Assuming the market outcome, and a world price of $6.50 calculate the following: Price Qddom Qsdom Imports or exports
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The following graph shows the domestic supply of and demand for soybeans in Guatemala. The world price (Pw) of soybeans is $540 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. TRICKY YALL 855 820 PRICE (Dollars per ton) 785 750 715 680 645 610 575 540 Domestic Demand 105 0 40 A Domestic Supply Pu NO 120 160 200 240 260 320 340 400 QUANTITY (Tons of soybeans) If Guatemala is open to international trade in soybeans without any restrictions, it will import Suppose the Guatemalan government wants to reduce imports to exactly 160 tons of soybeans to help domestic producers. A tariff of tons of soybeans. per
25 20 15 10 5 0 S e) $13.5 -IP 0369 12 15 18 21 24 24. If the free trade price is IP and this country imposes a trade tariff of $3, what will be the resulting welfare loss to consumers? (Hint: the area of a triangle is 1/2 the base times the heigh O a) $3 Ob) $40.5 O c) SO O d) $27