ZuoTi.Pro
Question

The market for USB flash drives in Country C is perfectly competitive and is in equilibrium....

The market for USB flash drives in Country C is perfectly competitive and is in equilibrium.
Domestic demand is given by Qd = 300 – 4P and domestic supply is given by Qs = 2P.
The world price for flash drives is $20.

The government of country C imposes a tariff of $20 on all imported flash drives.

Before the tariff was imposed, country C imported MFree flash drives.
After the tariff is imposed, country C now imports MTrf flash drives.


What is MFree and MTrf?

Question 1 options:

1)

 MFree = 220 units, MTrf = 60 units

2)

 MFree = 180 units, MTrf = 140 units

3)

 MFree = 140 units, MTrf = 60 units

4)

 MFree = 180 units, MTrf = 60 units

5)

 MFree = 220 units, MTrf = 140 units
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

supply (Qs = 20) E inchal Equubrien 50 760- Od = 300-up Qd = 3 Putt = 40 -------- PW = $20 PO 1400 At Pw = $20, the Quantity

0 0
Add a comment
Know the answer?
Add Answer to:
The market for USB flash drives in Country C is perfectly competitive and is in equilibrium....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

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 that the market demand and supply equations in a perfectly competitive market are QD =...

    Suppose that the market demand and supply equations in a perfectly competitive market are QD = 16 − 4P and QS = −2 + 2P, respectively. What is the full economic price if the government imposes a price ceiling of $2?

  • Trade policy. The demand for high-end Workstations in the United States is given by QD =...

    Trade policy. The demand for high-end Workstations in the United States is given by QD = 100 − P , where QD is the quantity demanded expressed in thousands of units, and P is the price measured in thousands of dollars. The supply is given instead by QS = P. For this exercise we will assume that the US are a small country in the world’s Workstations market and that the prevailing world price is given by P W =...

  • The following figure shows the demand and supply curves for USB flash drives at different price...

    The following figure shows the demand and supply curves for USB flash drives at different price levels. D is the demand curve, and S1 is the initial supply curve. Price ($) s, 7 PrI ino aamand deo 5 4 3 H- 0 10 20 40 60 Quantity (units) 9) Refer to the figure above. When the supply curve of flash drives is S2 and the demand curve of 19 A-- flash drives i A) 10 uni Ow vhat is the...

  • Question 5 Consider the market for rice, which is perfectly competitive. Aggregate supply and demand are...

    Question 5 Consider the market for rice, which is perfectly competitive. Aggregate supply and demand are respectively given by Qs -5P 20 and 120-2P, (a) Find the (short-run) equilibrium price and quantity in this market. (6 marks) If the government imposes a tax of S10 per unit sold in this market. Find the quantity sold after the tax is imposed. (b) (7 marks) (c) Compute the deadweight loss imposed by the tax. (7 marks)

  • A country imports sugar. The foreign supply curve is horizontal. Illustrate each of the following three...

    A country imports sugar. The foreign supply curve is horizontal. Illustrate each of the following three cases, identifying the domestic price, p; the domestic quantity supplied, Qs; the domestic quantity demanded, Qa, and the quantity imported, Q; and deadweight loss, DWL a. The government allows free trade. b. The government imposes a tariff of $1 per pound and 100 units of sugar are i c. The government increases tariff, by enough that the quantity of imports drops to zero.

  • Assume a perfectly competitive industry. The demand curve is QD = 93 − 3P and the...

    Assume a perfectly competitive industry. The demand curve is QD = 93 − 3P and the supply curve is QS = -2 + 2P a) Find producer and consumer surplus. Suppose that a tax of $20 per unit is imposed on firms. b) Find the burden of the tax on consumers c) Find the burden of tax on firms d) Find any deadweight loss.

  • Figure 9-22 The following diagram shows the domestic demand and domestic supply in a market. In...

    Figure 9-22 The following diagram shows the domestic demand and domestic supply in a market. In addition, assume that the world price in this market is $40 per unit. Price 190 180 170 160 150 140 130 omestic Suppl 110 100 90 80 70 60 50 40 20 Deman 10 200 400 600 80 1000 1200 14001600 1800 2000 2200 2400 antity 15. Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. Relative to the...

  • Question 5 (1 point) Suppose that in a perfectly competitive market, demand is given by Q...

    Question 5 (1 point) Suppose that in a perfectly competitive market, demand is given by Q 56.0-P and supply is given by Q=P-13.0. The government imposes a per-unit excise tax of $1 on the good. What is producer surplus after the tax is imposed? No units, no rounding. Your Answer: Your Answer Question 6 (1 point) Suppose that in a perfectly competitive market, demand and supply are given by 100 bP QS P- 20 where b-1.0. The government imposes a...

  • Malaysian government has imposed import tariffs on imported photocopy machine from China to protect their local...

    Malaysian government has imposed import tariffs on imported photocopy machine from China to protect their local industry from foreign competition. Given are the two equations of domestic demand and supply of photocopy machine in Malaysia: Demand: Qd= 135 - 5P Supply: Qs= 15 + 15P where Q denotes quantity (in thousand units) and P denotes price (in RM thousand per unit). i) If the world price is RM5 thousands per unit and import tariff of 10% is imposed, determine the...

  • 33. The following diagram shows the domestic demand and supply curves for sunglasses. Assume that...

    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...

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