Homework Answers
a) the quantity of imported car is the nation impose a tariff will be 15, as the local demand at the price of 60 will be 30 and local production will be 15.
b) The price of the car will be 60.
c) A tarifff of 20 has been imposed on the car in the market.
d) As the import is 15 and the tariff is 20 total revenue earned by the government will be 300.
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answer parts E-H only, please.
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33. The following diagram shows the domestic demand and supply curves for sunglasses. Assume that the world price for sunglasses is $10 per unit. 60 50 45 40 35 30 20 15 10 200 400 600 800 1000 Part : With no trade allowed, what are the equilibrium price and equilibrium quantity for sunglasses? Part 2: If the country allows free trade, (a) how many sunglasses will domestic consumers demand and how many sunglasses will domestic producers produce? (b) Will...
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E-H ONLY. THERE ARE THREE PICTURES
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