Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 9, Problem 8IAPA
To determine
The price of car and quantity produce by Mexico if import quota imposed is to be determined.
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The figure provided shows the Canadian domestic market for calculators.
Price of
calculators
$450
40
30
20
25
10
S
world price with tariff
world
price
Fore
50 100 200 300 400 500 600 700 800 900
Quantity of calculators
If the world price is $5 and an import quota of 600 is imposed, the price after the quota, in numerals, is
Finland imports shoes into its country; they are a price taker in this market. Suppose the world price of shoes is $40. If Finland
imposes a $10 tariff on shoes, what would be the domestic price of shoes and what will happen to the quantity bought?
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
The quantity bought will increase and the price will be $30.
a
The quantity bought will fall and the price will be $30.
The quantity bought will fall and the price will be $50.
The quantity bought will increase and the price will be $50.
Answer d and e only
Chapter 9 Solutions
Foundations of Economics (8th Edition)
Ch. 9 - Prob. 1SPPACh. 9 - Prob. 2SPPACh. 9 - Prob. 3SPPACh. 9 - Prob. 4SPPACh. 9 - Prob. 5SPPACh. 9 - Prob. 6SPPACh. 9 - Prob. 7SPPACh. 9 - Prob. 8SPPACh. 9 - Prob. 9SPPACh. 9 - Prob. 10SPPA
Ch. 9 - Prob. 11SPPACh. 9 - Prob. 1IAPACh. 9 - Prob. 2IAPACh. 9 - Prob. 3IAPACh. 9 - Prob. 4IAPACh. 9 - Prob. 5IAPACh. 9 - Prob. 6IAPACh. 9 - Prob. 7IAPACh. 9 - Prob. 8IAPACh. 9 - Prob. 9IAPACh. 9 - Prob. 1MCQCh. 9 - Prob. 2MCQCh. 9 - Prob. 3MCQCh. 9 - Prob. 4MCQCh. 9 - Prob. 5MCQCh. 9 - Prob. 6MCQCh. 9 - Prob. 7MCQ
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