Homework Answers
Answer: This country imports 4 thousand cans of energy drinks.
With trade and tariff, this country imports 4 thousand cans of energy drinks.
From the figure, we see that, with trade and tariff, the price of energy drinks in this country is $3 per can. At this price, the quantity demanded for energy drinks in this country is 7,000 cans and the quantity supplied of energy drinks in this country is 3,000 cans. So, the domestic demand is more than the domestic supply by 4,000 cans (7,000 - 3,000). The amount of excess demand for energy drinks is imported from abroad.
Therefore, with trade and tariff, this country imports 4,000 cans of energy drinks.
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