Using letters ON the DIAGRAM, explain the answer, (a) If foreign trade is allowed and the world price is USD 10,000 per automobile explain the winners and losers and overall well-being. Use the letters indicated to explain your answer. (b) If the government imposed a tariff of USD 5,000 per unit, what is the government revenue and the dead-weight loss of tariff.

Q: Show the effects of the $200 tariff on the following graph. Use the black line (plus symbol) to…

A: Equilibrium is achieved at the output level where Qs equals Qd

Q: This is homework question, not for exam. Pls help me with this problem, I will upvote -) As part…

A: As economies and societies developed, the study of economics got more complicated. Hence, as a…

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit…

A: Tariff is defined as the tax which is imposed by the government on goods which have been imported to…

Q: In mixed specific factors model, clothes and rice, capital (K) is specific to clothes and land(A) is…

A: Tariff refers to the tax imposed by the government on the imported goods in order to restrict the…

Q: Assume that Canada is an importer of televisions and that there are no trade restrictions. Canadian…

A: Since you have asked multiple-part questions, we will solve the first three questions for you. If…

Q: Suppose the following diagram shows the domestic supply and demand curve for a good. Assume that the…

A: Demand curve shows the quantity demanded at different prices whereas supply curve shows the quantity…

Q: Show the effects of the $40 tariff on the following graph. Use the black line (plus symbol) to…

A: Consumer surplus is the green shaded under free trade: Calculated by Area of triangle (green)…

Q: Qd = 100 - 0.5P Qs = P - 50 The world price (which will not be affected by anything that we do)…

A:

Q: What are the commonly used arguments for the use of tariffs?

A: Tariffs: It refers to the amount which is charged by the government on the goods and services which…

Q: If a nation that imports a good imposes a tariff, itwill increasea. the domestic quantity…

A: When we are talking about international trade, that means there will be import and export of goods…

Q: International trade: If Germany (which is a large country) imposes an import tariff on textile…

A: Tariffs are imposed by countries to generate income, defend domestic markets, or exercise diplomatic…

Q: Solve the attachment.

A: Demand Function  QD = 800 - 5P Supply Function  QS = 10 + 5P  At Equilibrium  QD = QS  800 - 5P = 10…

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit…

A: A tariff is a levy imposed on products and services imported from another country by one country.…

Q: Price S $11.00 $7.50 $6.00 $4.00 6 12 15 Quantity The graph above shows the demand and supply of…

A: Given graph:

Q: Let us consider the case of Venezuela. A tariff is imposed on imported clothes in Venezuela. In the…

A: Solution:-  Quantity of clothes produce before the imposition of tariff = 15532 The quantity produce…

Q: A big country with a good's demand described by P= 150 - 3Q and a good's supply described by P= 40 +…

A: Answer a) Demand P = 150 - 3QSupply P = 40 + 2Q 150 - 3Q = 40 + 2Q        110 = 5Q           Q = 22…

Q: A small country's demand curve is given by Q-31-2P and its supply curve is given by Q-2P- 17. If the…

A: A tariff is a tax placed on goods imports or exports by the government of a country or a…

Q: It costs a computer manufacturer £2000 to produce a personal computer.  This manufacturers sells…

A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…

Q: Show the effects of the $60 tariff on the following graph. Use the black line (plus symbol) to…

A: Trade is an activity where the exchange of goods and services takes place between the seller and the…

Q: Show the effects of the $40 tariff on the following graph. Use the black line (plus symbol) to…

A: Tariff refers to the tax imposed by the government on the imported goods in order to restrict the…

Q: A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit…

A: The tariff is a kind of tax barriers used by the government in order to promote or protect the…

Q: If the domestic demand curve is – 0.5 Q = 10p the domestic supply curve is Q = 5p0.5, and the world…

A: Domestic Demand curve; Q=10p-0.5 Domestic supply curve; Q=5p0.5 World price= $7

Q: Under what conditions may a tariff actually make a country better off? Show it graphically and…

A: Tariff refers to the situation where the government imposes tax on the imported goods in order to…

Q: ​Assume that the domestic supply and demand for a good are given by the following equations. Q= 400…

A: a. At P = $4, D = 400-30*4 = 280 S = 50+20*4 = 130 Import demand = D-S = 280-130 = 150 units. Import…

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

A: Tariffs: It refers to the tax which is imposed by the government on goods and services which is to…

Q: Which of the following would be a reason China would place a tariff on Canadian lumber? A. China is…

A: Imposing a tariff on an import is a protectionist policy, an economy can do so to discourage import…

Q: Show the effects of the $40 tariff on the following graph. Use the black line (plus symbol) to…

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

Q: A small country imports salt. With free trade at the world price of $10 per pound, the country's…

A: The equilibrium price and quantity of a good sold in the market are determined by the demand and…

Q: Solve the attachment

A: Let us consider the economy before, The dd function for smart phones is Qd = 800 – 5P The ss…

Q: Consider the case of the following large country (all prices are measured in euros, and quantities…

A:

Q: Price $11.00 $7.50 $6.00 $4.00 D 4 6 12 15 Quantity The graph above shows the demand and supply of…

A: (5) Given that- World Price = $4 per wrench Tariff imposed by Spain = $2 Before tariff World…

Q: What is the difference between tariffs and quotas? What are the benefits of reducing barriers to…

A: A tariff is a levy levied on imports and exports of products by the government of a country or…

Q: Consider a small open economy country that produces coffee. The world price of coffee is greater…

A: Before the trade, the autarky has equilibrium price of coffee that is lower than the world price.…

Q: Use the following table for Country X to answer the next question. Column 1 of the table is the…

A: An import is a product or service purchased in one country but manufactured in another.…

Q: Suppose that Congress imposes a tariff on imported autos to protect the U.S. auto industry from…

A: The international trade is the exchange of goods and services between different nations in the…

Q: Tariffs can help or hurt the economy explain the Hawley-Smoot Act with this in mind.

A: Tariffs refer to the tax imposed by the government on the imported goods. It is ultimately borne by…

Q: hich of the following statements regarding tariffs is wrong?     - A tariff reduces the gains…

A: A tariff is a tax or duty imposed by the country on imports.

Q: International Economics: Theory and Policy, 1le (Krugman et al.) Chapter 9 The Instruments of Trade…

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

Q: The accompanying table gives data for Country X. Column 1 of the table is the price of a product.…

A: From the data, it is clear that the equilibrium price is $3 and the equilibrium quantity is 300…

Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.