Trade costs affect the following EXCEPT O how a firm responds to competition in a market. O how a firms will let go of profit for the benefit of domestic and overseas customers. O how much a firm will lower its markup for the export market. whether a firm will export their products.
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- The textile industry in your country persuades the legislature to put a tariff on imported textiles. Who does not gain from this law? Select one: O a. Domestic textile producers. O b. Your government. O c. Workers in the domestic textile industry. O d. Domestic consumers. Check Next page s page Unit 6 Jump to... HW Unit 6 DUE March 17 ► logged in as Ashli-Amari Bent (Log out) 00/1-2021/SPRING/DAY MacBook Pro Search or type URL $ & 4 6 7 8.What determines whether a new product will be a success or failure? O Whether it creates enough value to consumers to offset the opportunity cost of production, thus increasing the value of resources O Whether the company has enough political influence to ensure tariff barriers are enacted to eliminate foreign competition.7. Consider a country that imports a good from abroad.For each of following statements, state whether it istrue or false. Explain your answer.a. “The greater the elasticity of demand, the greaterthe gains from trade.”b. “If demand is perfectly inelastic, there are no gainsfrom trade.”c. “If demand is perfectly inelastic, consumers donot benefit from trade.”
- Which of the following is NOT a benefit from trade? O a. the ability to specialize O b. an increase in the variety of goods and services available O c. reduced competition O d. lower pricesThe box said higher or lower for the 1 question an OA. win: lose OB. lose: win OC. lose: lose OD. win: win The United States exports athletic coaching services and imports coffee. The price of athletic coaching services in the United States is without international trade. As a result of trade in athletic coaching services, U.S. producers of athletic coaching services and U.S. consumers of athletic coaching services Click to select your answer. Show Transcribed Text The box said higher or lower for the 1 question 5 OA win; lose OB. lose; win OC. win: win OD. lose; lose C 3 C The price of coffee in the United States is trade. As a result of trade in coffee, the U.S. producers of coffee with international trade than with international trade than without international and U.S. consumers of coffee T tri AD Question 24 Which of the following is NOT an argument for restricting trade? O The Infant Industry Argument O Trade protection will increase the total surplus for the market protected Trade protection will increase jobs O Trade protection will decrease inequality
- Which of the following is true about BRIC countries: a. There is low prospects of growth O b. To attain raw materials you will outsource to Bangladesh O c. There is low investment O d. There are high growth rates which may not be seen in North America Google is pursuing a global brand web strategy and must be mindful of the cultural and language differences across countries. Select one: O True O False occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.Home's demand curve for wheat isD = 100- 20P.Its supply curve isS= 20 + 20P.Derive and graph Home's import demand schedule. What would the price of wheat be in the absence of trade?2. Now add Foreign, which has a demand curve*D=80-20pand a supply curve = 40 + 20P.Derive and graph Foreign's export supply curve and find the price of wheat that would prevail in Foreign in the absence of trade.b. Now allow Foreign and Home to trade with each other, at zero transportation cost.Find and graph the equilibrium under free trade. What is the world price? What isthe volume of trade? 3. Home imposes a specie tariff of 0.5 on wheat imports.a. Determine and graph the effects of the tariff on the following: (1) the price ofwheat in each country; (2) the quantity of wheat supplied and demanded in each country; (3) the volume of trade.b. Determine the effect of the tariff on the welfare of each of the following groups:(1) Home import-competing producers; (2) Home consumers; (3) the Homegovernment.c.…D Question 6 As part of a trade war, country A agrees to introduces a quota on cars imported from country B. Country A can then expect the price of cars imported from country B to decrease, and their quality to remain the same O the price and the quality of cars imported from country B to increase the price of cars imported from country B to increase, and their quality to decrease O the price and the quality of cars imported from country B to decrease
- ↳ A Click Submit to complete this assessment. Question 33 What insights do welfare analysis (consumer surplus/producer surplus) offer into international trade? O a. That trade increases the welfare of producers, so trade may make total surplus fall. O b. That tariffs make a country better off and trade wars can definitely be won! Oc. That nations are better off NOT trading with each other, because lower world prices harm most nations' producers and consumers. Od. That while trade increases total surplus, consumers or producers in a country may gain or lose, depending on world price. A Click Submit to complete this assessment. tab caps lock shift fn 1 Q 2 A W Z I 3 S E X S D R C F T V G H B J N KThe figure below shows the hypothetical domestic supply and demand for baseball caps in the country of Spain. Domestic Supply and Demand for Baseball Caps Spain Price (€ per cap) 10 X 10 20 30 40 50 60 70 80 90 100 9 8 7 5 3 2 1 0 Sd DdA Moving to another question will save this response. Question 13 Pheef A B D D What could this graph be used to illustrate? O a. The welfare benefits when a country imports a good. O b. How to apply the Big Mac index to the trade model. O c. The welfare effects of a tariff. O d. The welfare benefits when a country exports a good. A Moving to another question will save this response. S Q beef WORLD PRICE