Principles of Microeconomics, 7th Edition (MindTap Course List)
Principles of Microeconomics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165905
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 17, Problem 1PA

Subpart (a):

To determine

Equilibrium price.

Subpart (b):

To determine

Calculation of marginal revenue.

Sub part (c):

To determine

Calculation of profit.

Subpart (d):

To determine

What would be the price and quantity of diamond in Russia and South Africa after formation of cartel.

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I need help figuring this out. I'm pretty sure this is correct?If Zambia is open to international trade in oranges without any restrictions, it will import 180 tons of oranges.I can't figure these two out: 1) Suppose the Zambian government wants to reduce imports to exactly 60 tons of oranges to help domestic producers. A tariff of ???? per ton will achieve this.   2) A tariff set at this level would raise ????in revenue for the Zambian government.
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