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- Hi can you please help me with the calculations and working? Question 1 Assume D: p=2-q and S: p=q are demand and supply What's the autarky equilibrium price and quantity, consumer surplus, producer surplus and total welfare? Suppose the world price is pw=3 and that local firms can sell as much as they want at that price; what is consumer surplus and producer surplus? Has the ability to trade at the world prices increased welfare? By how much?The demand for cars in a certain country is given by: ? = 15,000 − 0.3?, where P is the price of a car. Supply by domestic car producers is: ? = 5,000 + 0.2?. Suppose this economy opens to trade, and the world price of a car is $13,000. If the government imposes a quota allowing 3,000 cars to be imported, then the domestic price of cars will beThe demand for cameras in a certain country is given by D=8000−30P, where P is the price of a camera. Supply by domestic camera producers is S=4000+10P. Suppose that world price of a camera is $150. If this country decides to trade, which of the following is true? Group of answer choices 3000 cameras will be exported Domestic production of cameras will decrease by 500 Domestic production of cameras will increase by 500 2000 cameras will be imported
- 1) Assume that the domestic supply and demand for a good are given by the following equations. Q = 500 – 20 P Q = 80 + 10 P a) If the world price is $10 what is the free trade level of imports? Calculate the net welfare effects of a quota of 60 units. (Quota rent goes to foreign suppliers ( VERS) . Use also graph to show the effects of this quota. b) If %30 tariff imposed on the world price(10$) , what will be net welfare effects? Compare this welfare effect with the one in (a) and comment. Use a new graph to show the effects.Assume that the domestic supply and demand for a good are given by the following equations. Q = 500 – 20 P Q = 80 + 10 P If the world price is $10 what is the free trade level of imports? Calculate the net welfare effects of a quota of 60 units. (Quota rent goes to foreign suppliers ( VERS) . Use also graph to show the effects of this quota. If %30 tariff imposed on the world price(10$) , what will be net welfare effects? Compare this welfare effect with the one in (a) and comment. Use a new graph to show the effects. Suppose the domestic industry is a Monopoly, with which commercial policy instrument ( quota or tariff? - assuming both of them yields the same level of imports- ) would it prefer to be protected and why? Explain.The graphs below show domestic supply and demand curves for a good in two countries, with prices measured in the same currency. If these are the only two countries in the world and if they open to free international trade, O. Demanders of the good in Country A will benefit from trade. O. Suppliers of the good in Country A will benefit from trade. O. The welfare of Country A as a whole will fall. O. The quantity of the good demanded in Country B will become larger. O. The price of the good in both countries will be the one labeled PB.
- given the following table for obtaining points on country A's offer curve: possible term of trade Qty of imports of good Y demand qty of exports of good X supplied 1X:1Y 40 units 40 units 1X:2Y 90 units r 1X:3Y 120 units s in this table, a. r = 45 units, s = 40 units b. r = 180 units, s = 40 units c. r = 45 units, s = 360 units d. r = 180 units, s = 360 unitsSuppose that the demand curve for vegetable fibre in Euroland is given by QD = 40 − 2P , and that the supply curve is given by QS = 2/3 (P) (i.e. two thirds of P). The world price of vegetable fibre is €9 per unit.If there no restrictions on trade the level of imports of fibre into Euroland would beA. 26 unitsB. 16 unitsC. 4 unitsD. 12 unitsThe market for pencils has a domestic demand equation P=20−0.5Q�=20−0.5�, and a domestic supply equation P=5+Q�=5+�, where quantity is measured in thousands. The world supply equation for pencils is PW=10��=10. If trade is allowed, what is the resulting equilibrium price and quantity?
- The graph demonstrates the domestic demand and supply for a good , as well as the world price for that good. If this country is an autarky, what amount of the good is consumed domestically, and at what price? a. 60 units at $10 each b. 115 units at $14 each c. 150 units at $10 each d. 60 units at $17 each22. What quantity will Country B demand from the rest of the world at P=$5? 23. What quantity will Country B supply from the rest of the world at P=$12? 24. The international equilibrium price is $______. 25. What will be the quantity traded?Now, suppose that Island is a large exporting country with the following demand and supply functions and the free-trade world price is $5,000 per unit. D = 900,000 − 150P and S = 100,000 + 50P The Island government offers an export subsidy that increases the domestic market price to $5,500 and lowers the world price to $4,500. However, starting next month, the Island government will be removing the export subsidy in compliance with the latest international trade pact. A. What is the impact of the removal of the subsidy on domestic consumers? B. What is the change in producer surplus due to the movement to free trade? C. What is the net effect of moving to free trade on Island welfare?
