Lesson 12 Question 1 The domestic demand for carrots is given by: QD=2000-50P.The domestic supply for carrots is given by: QS=100P-700.The country is open to free trade and finds the world price of carrots is $12.The government levies a $3 per unit tariff on imported carrots.Calculate the tariff deadweight loss.(Do not include a "$" sign in your response.)

To calculate the deadweight loss from the tariff, we need to find the consumer surplus, producer…

Answered: The domestic demand for carrots is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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PROBLEM (5) (tariff) The domestic (US) demand and supply for soy is p = 80 − QD and p = QS + 10 respectively. US market is very small relative to the world market, and the world (equilibrium) price is $20. Draw one graph for the market marking all intercepts and intersections to help you with (a) and (b) below. (a) If there is NO trade, what is the CS, PS, net domestic benefits, DWL?(b) If there is free trade, what is the CS, PS, net domestic benefits, DWL? How many units are imported? Now the state imposes a tariff of t dollars per unit.(c) What should be the tariff amount t to maximize tariff revenues? In this case, what is the DWL?(d) What should be the tariff amount t so that consumers and producers equally well off (CS equals PS)? (e) What should be the tariff amount t to maximize PS?(f) What is the most efficient tariff amount t? What is the least efficient tariff amount t? (i.e. that minimizes and maximizes DWL respectively.)
It's the year 2023 and you are the manager at a local brew pub here in Fayetteville. You are one of many local breweries in town; therefore, your customers have many options of where to spend their beer money. You want to increase revenue and decide to raise the price of a pint of your craft beer. The table below shows the sales of beer from week 1 and sales in week 2 after you raised price. Table 1. Sales Data for Weeks 1 and 2 Week Week 1 Week 2 Price ($ per pint) $6.00 $8.00 Sales (Pints) 2,500 1,100 Using the information in the above table, what was the change in total revenue from week 1 to week 2 when you changed your price? (enter your answer without a dollar sign and indicate a decrease in revenue, if applicable, by including a negative (-) sign)
Subject :- Economics
How many bags of compost should we use and how many kgs of tomatoes will we produce? Answer these two questions by completing the table. How many bags of compost should we use and how many kgs of tomatoes will we produce?| you can sell your tomatoes for $3/kg. Compost is $10/bag. Tomatoes Total Benefit Marginal Benefit Total Cost (kg) Marginal Cost ($) Compost DECISION (Total Revenue) (S) (Marginal Revenue) (use/don't use) (bags) ($) ($) 50 1 60 68 74 4 78 5 80 2.
Retail life cycle refers to Multiple Choice the distinct stages a product goes through before it becomes obsolete. the process of growth and decline that retail outlets, like products, experience. the cycle of a customer's buying behavior from awareness of a product to its ultimate purchase. the relationship between the tangible aspects of a product and the types of services that need to accompany it. the traditional management changes that take place as a retail outlet grows.
(Please refer to the attached image.) 1. What is the message in this cartoon? 2. Does the cartoon show a challenge or an opportunity? Why do you say so?
3
Problem 3:complete parts A, B, and C using the graph.
Instructions: Based on what you have learned, discuss or share your experiences for each implication on how media and information affect you as an individual. Implications of Media and Information Your experience Media and information improve quality of life Media and information for greater political participation Media and information promoting economic opportunities Media and information for improvement of learning environment Media and Information individuals as more cohesive social units
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The owner of Tommy's Technicians has found that his shop is losing money and he is in jeopardy of going out of business. Sales have remained constant for quite some time and now he is looking at ways to cut expenses to stay in business. Which of the following expenses is his best choice to try to immediately reduce and save him meaningful dollars so he can remain in business? (Hint: First consider which ones he has ultimate control over?) Rent expense Utilities expense Payroll expense Shop insurance expense Advertising expense

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