Suppose that a country implements a $20 tariff.  Before the tariff, the country was importing 900 units of the good.  After the tariff, the country imported 850 units of the good.  What is the deadweight loss from the tariff?  Assume that domestic supply and demand are linear.

Q: Suppose the nation of Isoland is an importer of textiles and is looking for a way to raise…

A: With a consumption tax equivalent to tariff, the demand curve will shift downwards by an amount…

Q: n the Heckscher-Ohlin-Vanek model with trade a country that is labour abundant will     export the…

A: Heckscher-Ohlin-Vanek model states that trade results on account of the different relative prices of…

Q: Suppose supply is given by the equation Ps = 2 + Qs and demand is given by the equation PD = 50 –…

A: The equilibrium in the market is where the demand is equal to the supply. Imports are the goods…

Q: Without trade, consumer surplus is

A: Consumer surplus: - it is the difference between a consumer’s willingness to pay and the price he…

Q: Use the following assumptions to answer all questions: • There are three countries – Argentina,…

A: Since the question you have posted consists of multiple parts, we will answer the first three…

Q: use the attached graph to answer following question   With the export subsidy, this country will…

A: In an economy, export subsidy refers to the government activity under which government provide some…

Q: Both the import demand curve and export supply curve of a good are functions of domestic price of…

A: The following problem has  been solved as follows:

Q: Suppose that United States produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week.…

A: International trade empowers nations to grow their business sectors and access labor and products…

Q: Use the following assumptions to solve this assignment: 1. There are three countries - Argentina,…

A: 1) It is given that each country has 60 hours and a country needs 2 barrels of crude oil. This…

Q: An economist finds a magic lantern and is granted one wish; she wants to choose the one policy that…

A: An economist is the person who makes various policies and programs to implement them in an economy…

Q: When the prices of U.S.-produced goods rise and the price of foreign-produced goods do not change,…

A: When the prices of U.S. produced goods rise and the price of foreign produced goods do not change,…

Q: Comparative advantage     The price of the good sold in the market, but not the quantity bought…

A: Answer Option 'C' is correct - Both price and quantity of the good bought and sold in the market

Q: Country C imports 80,000 metric tons of steel from Country U and produces domestically 80,000 metric…

A: (Only the first one has been answered).    A country imports commodities from its trading partners…

Q: Consider the case of good C in Country D. Domestic producers of good C sell that good in the…

A: Only question 1 will be answered.

Q: Much of the demand for U.S. agricultural output has come from other countries. In 1998, the total…

A:

Q: Consider a small country imposing a tariff of $2/unit in imported corn (Policy A). Suppose the…

A: Disclaimer = As you posted multipart questions we are supposed to solve only the first 3 questions.…

Q: The effect of an import quota is to   a. lower the price and the quantity of imports.   b. raise…

A: Answer to the question is as follows :

Q: Contente Euphoria Rye Jeans Rye Jeans (Millions of bushels) (Millions of pairs) (Millions of…

A: In the country, which specializes in the good production would have the comparative advantage for…

Q: Refer to the graph to answer this question. Based on the Tariff graph, which of the following…

A: Given the graph above, the following observations are made: The imports reduce after tariff as seen…

Q: Country C imports 80,000 metric tons of steel from Country U and produces domestically 80,000 metric…

A:

Q: Which of the following statements is false?   A. A quota is a tax levied against a specific good…

A: When the world price lies below the equilibrium, shortage occurs because quantity demanded exceeds…

Q: If a country opens up for trade, and it ends up importing a good, the net effect of importing that…

A: When the country opens up for trade then it implies that the country trades with other nations. This…

Q: What is the so-called home-market effect? Which of the following statements on the home market…

A: In the international market, the demand for a specific product depends upon various internal and…

Q: the heckler-ohlin analysis, a country imports the good that uses intensively the countries…

A: The Heckscher–Ohlin theorem is one of the four critical theorems of the Heckscher–Ohlin model,…

Q: The graph below shows domestic supply and demand for purses in the United States. Suppose that at…

A: Given: Supply of purses to US market=30 purses

Q: 1 Read her Majesty’s Treasury Report and answer the following questions. Let us assume that as a…

A: If the UK has instantly begin importing US cars, then US would have more of the UK currency, there…

Q: Use appropriate supply and demand diagrams to analyze the effects on the market equilibrium price…

A: Equilibrium Concept Market supply and demand are in equilibrium, and prices are constant as a…

Q: Use the following assumptions to solve this assignment: 1. There are three countries - Argentina,…

A: Most economic decisions are made on the basis of the idea of an opportunity cost, what needs to be…

Q: The country A has an endowment (total supply) of 160 units of labor and 14 units of land, whereas…

A: Land/labor intensive good is the good which needs large amount of land/labor than any other factor…

Q: Indicate how the following affect the supply curve for rice: More subsidies granted to rice farmers…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: Explain the effect of tariffs on income distribution using figures.(clue: draw production…

A: A tariff is a tax imposed by a country on the goods and services that are imported from another…

Q: In his testimony before the house ways and means health subcommittee, Robert Reischauer stated that…

A: Price controls and global budgets both are cost containment strategies practiced in the field of…

Q: In a single year, Germany can raise 100 tons of wheat or produce 1,000 boxes of daisies. In the same…

A: Answer - Production of Germany: Wheat=100 tons Daisies=1000 boxes   Production of France: Wheat=50…

Q: Same question screenshot is attached Assume that Grainland currently produces wheat and does not…

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

Q: Price of TextilesQuantity of TextilesDemand   Supply   PWPW+TABCDEFGQS,1QS,2QD,2QD,1   Having…

A: As we know, with a consumption tax equivalent to a tariff the demand curve will shift downwards by…

Q: The domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 5,000 +…

A: Demand: Demand for a commodity can be defined as the desire and willingness of a consumer to acquire…

Q: Suppose the nation of Isoland is an importer of textiles and is looking for a way to raise…

A: The demand curve will shift downwards by an amount equal to the consumption tax if the consumption…

Q: If there is a need to increase the quantity and supply of oil, the most effective way to get it…

A: Supply alludes to the number of services and goods offered available to be purchased at a given…

Q: A federal regulation that required that all beef consumed in the US must be grown and processed in…

A: Consumption is the process of final using of the product and services. For example, when a person…

Q: Consider the Heckscher-Ohlin Model. Suppose there are two countries, Home and Foreign, two goods,…

A: World relative demand and a world relative supply schedule that sits between the national relative…

Q: If the size of a tariff raises the price of an imported item $20 per unit which in turn reduces the…

A: Trade refers to the flow of goods and services across borders. Adam Smith argued that free trade is…

Q: Concerned about the political fallout from rising gas prices, suppose that the U.S. government…

A: 1. The market equilibrium price is determined at the intersection of the demand and supply curves in…

Q: Use the following assumptions to solve this assignment: 1. There are three countries- Argentina,…

A: Given information Total labor hours=60 hours Required input for the production of oil and bee is…

Q: Export Subsidy. Suppose the home country exports cloth and imports food. Show the impact of an…

A: An export subsidy is a payment that is done to a firm that exports goods abroad. When an export…