1. Consider the following: Canada U.S. Rest of the World (ROW) PxC=$8 PXUS=$5 PxR=$4 (i) Tariff restrictions in effect: Suppose Canada imposes a tariff on its imports of good X. From whom would Canada import? What is the implicit maximum tariff rate so that trade could still exist?

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Q: 1. Assume two countries, the U.S (US) and Japan (J), have one good: cars. The demand (d) and supply…

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A: We are going to find the answer for this question using international trade theory,

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Q: P2. Suppose that in Japan, without a tariff 10,000 cars will be sold per year at an equilibrium…

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A: Introduction International trade is indeed the transfer of capital, commodities, and services…

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Q: country imposing a tariff can benefit in terms of social welfare if

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A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

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A: DX= 130-PX SX= -10+PX Unit price of commodity X=10 USD

Q: Suppose the U.S. imposes a tariff of $1 per pound of sugar on imports. What is the equilibrium price…

A: New equilibrium price with tariff = $2 + $1 = $3 Quantity of sugar with tariff: QT = 8 – 3 QT = 5

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A: Since you have posted questions with several parts , I will answer the first three for you.

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Q: 3. Question 3 A country, called 'Bikyland', does not allow for international trade. Bikyland…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: Assume that the domestic supply and demand for a good are given by the following equations. Q = 500…

A: Demand=Qd = 500 – 20 P Supply=Qs = 80 + 10 P the world price is $10

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Q: When China's clothing industry expands, the increase in world supply lowers the world price of…

A: *Answer:  When two countries trade with each other without any barriers, the countries are said to…