Principles of Microeconomics
7th Edition
ISBN: 9781305156050
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 9, Problem 6PA
Subpart (a):
To determine
The impact of export tax on the economy.
Subpart (b):
To determine
The impact of export tax on the economy.
Subpart (c):
To determine
The impact of export tax on the economy.
Subpart (d):
To determine
The impact of export tax on the economy.
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can you help me answer the highlighted questions please
The following graphs show the relationship between the price of peaches and the quantity of peaches supplied in two different regions, the North and the and South. Assume that the two lines are parallel.
In the North, if the price goes down by $0.40 per pound, then the quantity supplied in the North goes down by 600 pounds per year. If the price of peaches goes down by $0.40 in the South, what will happen to the quantity supplied?
A. There is not enough information given to determine the supply change in the South.
B. The quantity will decrease by 600 pounds per year.
C. The quantity will increase by 600 pounds per year.
D. The quantity will increase by 300 pounds per year.
Hey I am wondering if you can draw me a graph that relates to what i wrote below... Please include a graph or two showing the economic effects of the war on the production of agricultural things and explain why what is happening is happening. As a result of Russia's invasion of Ukraine, agriculture in both Russia and Ukraine was severely disrupted. This represents a decrease in supply. Because demand is up we can say that we know that the equilibrium price will increase. Because there is uncertainty surrounding the conflict and the availability of agricultural commodities this has caused an increase in demand for these commodities. In class, I learned that if supply decreases and demand increases at the same time, the combined effects would be a significant rise in the equilibrium price. Graph one shows the effect of a decrease in supply on price, and graph two shows the combined effect of a decrease in supply and an increase in demand on price. As a result of decreased supply and…
Chapter 9 Solutions
Principles of Microeconomics
Ch. 9.1 - Prob. 1QQCh. 9.2 - Prob. 2QQCh. 9.3 - Prob. 3QQCh. 9 - Prob. 1CQQCh. 9 - Prob. 2CQQCh. 9 - Prob. 3CQQCh. 9 - Prob. 4CQQCh. 9 - Prob. 5CQQCh. 9 - Prob. 6CQQCh. 9 - Prob. 1QR
Ch. 9 - Prob. 2QRCh. 9 - Prob. 3QRCh. 9 - Prob. 4QRCh. 9 - Prob. 5QRCh. 9 - Prob. 6QRCh. 9 - Prob. 1PACh. 9 - Prob. 2PACh. 9 - Prob. 3PACh. 9 - Prob. 4PACh. 9 - Prob. 5PACh. 9 - Prob. 6PACh. 9 - Prob. 7PACh. 9 - Prob. 8PACh. 9 - Prob. 9PACh. 9 - Assume the United States is an importer of...Ch. 9 - Prob. 11PA
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- Suppose a decrease in the world demand for desktop computers causes the price of desktop computers to fall from $600 to $500. Before the fall in demand, Juna, a local computer dealer in Japan, used to produce 9,000 desktop computers and exported 50 percent of it to other countries every week. However, after the fall in demand, Juna reduced its production to 8,000 units and exports only 40 percent of its total output.a. What are the changes in the quantity sold to domestic consumersb. What are the changes in the consumer surplus?c. Sketch a diagram to illustrate the changes for Juna.arrow_forward7. For many years, various groups have accused China of "dumping" exports onto the US market. That is, they claim that the Chinese government subsidizes Chinese exporting firms to allow them to sell at lower prices than US firms and/or lower than sellers from other countries. Some trade policy analysts argue that the US is harmed by this dumping behavior and that the US should impose restrictions on imports from China. Use a supply and demand diagram to assess this argument. Do you agree with the argument made and policy prescribed by the trade analysts?arrow_forwardQuestion 2 Assume the nation of Australia is "small" and thus unable to influence world price. Its demand and supply schedules for TV sets are shown in Table 2. Using graph paper, plot the demand and supply schedules on the same graph. Table 2 Demand and Supply: TV Sets (Australia) a. price of TVS Quantity Demanded Quantity Supplied $500 C. 400 300 200 100 0 10 20 30 40 50 50 40 30 20 10 Determine Australia's market equilibrium for TV sets. (1) What are the equilibrium price and quantity? (2) Calculate the value of Australian consumer surplus and producer surplus. b. Under free trade conditions, suppose Australia imports TV sets at a price of $100 each. Determine the free trade equilibrium and illustrate graphically. (1) How many TV sets will be produced, consumed, and imported? (2) Calculate the dollar value of Australian consumer surplus and producer surplus. To protect its producers from foreign competition, suppose the Australian government levies specific tariff of $100 on…arrow_forward
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