Question

Prlco of Corn (dollaro) Quantity (tons of com) Refer to the figure above. With no international trade, the domestic equilibri

Price La Quantity Refer to the above graph. The area of producer surplus would be shown by the area: A. bec. B. adc. OC. cac.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer
the equilibrium is at Qd=Qs
where
P=P3
the domestic price without trade is P3
Option B
========
Answer

the equilibrium is at Qd=Qs
where
P=d and Q=Q1
the producer surplus is the area below the price and above the supply curve
so the are is triangle 0dc

option D

Add a comment
Know the answer?
Add Answer to:
Prlco of Corn (dollaro) Quantity (tons of com) Refer to the figure above. With no international...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Suppose Sudan is a "small country" In the world market for corn. The following graph shows the demand and supply curves for the domestic market for com. The world price is $125 per ton...

    Suppose Sudan is a "small country" In the world market for corn. The following graph shows the demand and supply curves for the domestic market for com. The world price is $125 per ton of corn. Throughout the question, assume that changes in trade polkdles in other countries do not significantly affect the world market for corn and that there are no transportation or transaction costs assoclated with international trade in corn. Also assume that domestic suppliers will satisty domestic...

  • fill in the blanks 1)increase/decrease 2)increase/decrease 3)gain/loss Consider the Sudanese market for tangerines. The...

    fill in the blanks 1)increase/decrease 2)increase/decrease 3)gain/loss Consider the Sudanese market for tangerines. The following graph shows the domestic demand and domestic supply curves for tangerines in Sudan. Suppose Sudan's government currently does not allow international trade in tangerines. Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Sudan in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area...

  • The following graph shows the domestic demand and domestic supply curves for lemons in Bolivia. Suppose Bolivia's government currently does not allow international trade in lemons.

    Consider the Bolivian market for lemons.The following graph shows the domestic demand and domestic supply curves for lemons in Bolivia. Suppose Bolivia's government currently does not allow international trade in lemons.Use the black point (plus symbol) to indicate the equilibrium price of a ton of lemons and the equilibrium quantity of lemons in Bolivia in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use the purple...

  • Consider the Guatemalan market for tangerines. The following graph shows the domestic demand and domestic supply...

    Consider the Guatemalan market for tangerines. The following graph shows the domestic demand and domestic supply curves for tangerines in Guatemala. Suppose Guatemala's government currently does not allow international trade in tangerines Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Guatemala in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...

  • Consider the Sudanese market for tangerines The following graph shows the domestic demand and domestic supply...

    Consider the Sudanese market for tangerines The following graph shows the domestic demand and domestic supply curves for tangerines in Sudan. Suppose Sudan's government currently does not allow international trade in tangerines Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Sudan in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...

  • Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic supply...

    Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic supply curves for lemons in Bolivia. Suppose Bolivia's government currently does not allow international trade in lemons. Use the black point (plus symbol) to indicate the equilibrium price of a ton of lemons and the equilibrium quantity of lemons in Bolivia in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...

  • Aplia Homework: International Trade 3. Welfare effects of a tariff in a small country Suppose Zambia...

    Aplia Homework: International Trade 3. Welfare effects of a tariff in a small country Suppose Zambia is open to free trade in the world market for soybeans. Because of Zambia's small size, the demand for and supply of soybeans in Zambia do not affect the world price. The following graph shows the domestic soybeans market in Zambia. The world price of soybeans is Pw-$400 per ton On the following graph, use the green triangle (triangle symbols) to shade the area...

  • please help with the whole problem. thank you the first and second drop down menu has...

    please help with the whole problem. thank you the first and second drop down menu has options of: increase or decrease. and the thrird drop down menu has an option of: gain or loss 1. Welfare effects of free trade in an exporting country Consider the New Zealand market for lemons. The following graph shows the domestic demand and domestic supply curves for lemons in New Zealand. Suppose New Zealand's government currently does not allow international trade in lemons. Use...

  • The following graph shows the domestic demand and domestic supply curves for tangerines in Panama. Suppose...

    The following graph shows the domestic demand and domestic supply curves for tangerines in Panama. Suppose Panama's government currently does not allow international trade in tangerines. Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Panama in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use the purple triangle (diamond symbol) to...

  • Consider the Colombian market for soybeans. The following graph shows the domestic demand and domestic supply...

    Consider the Colombian market for soybeans. The following graph shows the domestic demand and domestic supply curves for soybeans in Colombia. Suppose Colombia's government currently does not allow international trade in soybeans. Use the black point (plus symbol) to indicate the equilibrium price of a ton of soybeans and the equilibrium quantity of soybeans in Colombia in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT