Question 9 (1 point) Suppose that Domestic's market demand is given by the equation P = 46 - 1*Qd and market supply is given by P = 11 + 3*Qs (where P is the price, Qd is the quantity demanded, and Qs is the quantity supplied). Suppose that Domestic opens up to trade and faces export supply given by P = α*Qe + B (where Qe is the quantity exported) Domestic is considering using an import tariff. Which of the following statements about the optimal import tariff, T, is true: 1. If α > 0, T will be positive, and if x = 0, T will be positive. 2. If a > 0, T will be positive, and if x = 0, T will be zero. 3. If a > 0, T will be zero, and if If α = 0, T will be positive. 4. If a > 0, T will be zero, and if x = 0, T will be zero. Please write "1" or "2" or "3" or "4" without the quotation marks as your answer. Your Answer:

Question 9 (1 point) Suppose that Domestic's market demand is given by the equation P = 46 - 1Qd and market supply is given by P = 11 + 3Qs (where P is the price, Qd is the quantity demanded, and Qs is the quantity supplied). Suppose that Domestic opens up to trade and faces export supply given by P = α*Qe + B (where Qe is the quantity exported) Domestic is considering using an import tariff. Which of the following statements about the optimal import tariff, T, is true: 1. If α > 0, T will be positive, and if x = 0, T will be positive. 2. If a > 0, T will be positive, and if x = 0, T will be zero. 3. If a > 0, T will be zero, and if If α = 0, T will be positive. 4. If a > 0, T will be zero, and if x = 0, T will be zero. Please write "1" or "2" or "3" or "4" without the quotation marks as your answer. Your Answer:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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