This problem asks you to examine the welfare effects of opening trade between the two countries. Please draw new graphs (separate from question 5). a. b. C. d. نه Label the area in your graph that represents consumer surplus in Country A before trade. What is the $ value of consumer surplus? Label the area in your graph that represents producer surplus in Country A before trade. What is the $ value of producer surplus? Label the area in your graph that represents consumer surplus in Country A after the opening of trade with the ROW. What is the $ value of consumer surplus? Label the area in your graph that represents producer surplus in Country A after the opening of trade with the ROW. What is the $ value of producer surplus? How much does Country A gain or lose from trade? Country A consumers? Country A producers? (Give $ values.)

Assume the United States is an importer of televisions and there are no trade restrictions. US consumers buy 1 million televisions per year, of which 400,000 are produced domestically and 600,000 are imported,a. Suppose that a technological advance among Japanese television manufacturers causes the world price of televisions to fall by $100. Draw a graph to show how this change affects the welfare of U.S. consumers and U.S. producers and how it affects total surplus in the United States.b. After the fall in price, consumers buy 1.2 million televisions, of which 200,000 are produced domestically and 1 million are imported. Calculate the change in consumer surplus, producer surplus, and total surplus from the price reduction. c. If the government responded by putting a $100 tariff on imported televisions, what would this do? Calculate the revenue that would be raised and the deadweight loss. Would it be a good policy from the standpoint of U.S. welfare? Who might support the policy?d.…

can you help me place where I need to chart consumer surplus and producer surplus on each attachment. Finally, can you help answer the question from the two attachments: overall, exporting countries _are harmed by, or benefit from, or are not affected by the fall in the world price of clothing, and importing countries _are harmed by, or benefit from, or are not affected by___________ the price change.

Dear expert please solve this.

Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. ecause this country exports steel, the world price is represented by    .   Suppose that a “pro-trade” government decides to subsidize the export of steel by paying $10 for each ton sold abroad. With this export subsidy, the price paid by domestic consumers is   per ton, and the price received by domestic producers is   per ton. The quantity of steel consumed by domestic consumers    , the quantity of steel produced by domestic producers    , and the quantity of steel exported    .   True or False: With the export subsidy, domestic producers will sell steel to domestic consumers and sell the rest abroad. True   False     Under the export subsidy, consumer surplus is   and producer surplus is   . Government revenue    by (increases or Decreases)   . As a…

8. Which of the following would be a deadweight loss from a tariff? A) The shift of consumer surplus to government B) The increase in producer surplus c) The decrease in consumer surplus D) The decrease in consumer surplus due to a drop in consumption 3|Page 9. Use the graph below and the following information to answer the next question. The world price of soybeans is $2.00 per bushel, and the importing country is small enough not to affect the world price. 2.25 2.00 World price 60 70 130 140 Qimillions bushels Based on Figure above, suppose the government puts a tariff of $0.25 per bushel on soybean imports. How much will the tariff reduce imports? A) Imports will decrease by 10 million bushels. B) Imports will decrease by 20 million bushels. C) Imports will decrease by 60 million bushels. D) Imports will not change after the tariff.

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What do we mean by Consumer and Producer Surpluses and how are they calculated? Who benefits, CONSUMER OR PRODUCER, if countries engage in trade and domestic price of tradeable good exceeds that of foreign equivalent? Address these questions using the case of the motor bike.

Assume that Canada is an importer of televisions and that there are no trade restrictions. Canadian consumers buy 1.2 million televisions per year, of which 600,000 are produced domestically and 600,000 are imported.   Suppose that a technological advance among Japanese television manufacturers causes the world price to fall $800 to $700. Draw a graph to show how this change affects the welfare of Canadian consumers and Canadian producers and how it affects total surplus in Canada. Label the diagram carefully to show all the areas using letters of alphabets. (Do not shade the areas).   After the fall in price, consumers buy 1.4 million televisions, of which 400,000 are produced domestically and 1 million are imported. Calculate the change (this will be only the area either gained or lost by consumers and producers) in consumer surplus, producer surplus and total surplus due to price reduction. Provide numerical answers by calculating the area of change in surplus due to fall in…