15 Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands).Quantity Supplied(before tariff)Quantity supplied(after tariff)Price ($)10,00011,00012,00013,00014,00015,00016,00017,000Quantity Demanded180160140120100806040a) The present equilibrium price is $b) Suppose that the Canadian governmentcolumn above.6080100120140160180200and quantity isthousand.imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the lastc) The new equilibrium price is $and quantity isthousand.d) The total revenue received by the government will be $million.e) Assume, instead, that the government imposes an import quota of 100,000 cars. The new equilibrium price is $quantity isthousand.f) Does the government now receive any revenue? (Click to select)< PrevSearch15 of 18 HNext >StySAMSUNG13and

Here, the given table shows quantity demanded and quantity support of Japanese car to Canada at…

Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). Quantity Supplied (before tariff) Quantity supplied (after tariff) Price ($) 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 Quantity Demanded WW 180 160 148 120 100 80 60 40 60 80 100 120 140 160 180 200 a) The present equilibrium price is $ and quantity is thousand. b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the last column above. c) The new equilibrium price is $ and quantity is thousand. million. d) The total revenue received by the government will be $[ e) Assume, instead, that the government imposes an import quota of 100,000 cars. The new equilibrium price is $ quantity is thousand. f) Does the government now receive any revenue? (Click to select) and

Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). Quantity Supplied (before tariff) Quantity supplied (after tariff) Price ($) 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 Quantity Demanded WW 180 160 148 120 100 80 60 40 60 80 100 120 140 160 180 200 a) The present equilibrium price is $ and quantity is thousand. b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the last column above. c) The new equilibrium price is $ and quantity is thousand. million. d) The total revenue received by the government will be $[ e) Assume, instead, that the government imposes an import quota of 100,000 cars. The new equilibrium price is $ quantity is thousand. f) Does the government now receive any revenue? (Click to select) and

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 3TY

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