SupplyPrice of Computers ($)SdomesticDemandTariff Amount1,000New Domestic EquilibriumCALCULATIONS800World PriceDomestic Quantity Supplied110ImportsDomestic Quantity Demanded190domesticLevel of Imports80190110Tariff Amount$0 Instructions: Manipulate the settings in the interactive tool as needed, and observe the resulting changes in the tool to answer thefollowing questions:Suppose that in the country represented above, there is a tariff of $40. The amount of imports isand the government's tariffrevenue is $If the tariff was increased to $65, the quantities supplied and demanded would adjust along their Supply and Demand curves. Importswould then beand tariff revenue would be $If the tariff was increased further to $200, imports would beunits and tariff revenue would be $

Given, At $0 the import is 80 World price = $800 Tariff Imposed = $40 New price = $840 As the Tariff…

Supply Price of Computers ($) domestic Demand Tariff Amount 1,000 New Domestic Equilibrium CALCULATIONS 800 World Price Domestic Quantity Supplied 110 Imports Domestic Quantity Demanded 190 D, domestic Level of Imports 80 190 110 Tariff Amount $0

Supply Price of Computers ($) domestic Demand Tariff Amount 1,000 New Domestic Equilibrium CALCULATIONS 800 World Price Domestic Quantity Supplied 110 Imports Domestic Quantity Demanded 190 D, domestic Level of Imports 80 190 110 Tariff Amount $0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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