MyLab Economics with Pearson eText -- Access Card -- for Economics
7th Edition
ISBN: 9780134739403
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 9, Problem 9.4.8PA
Subpart (a):
To determine
Economic effect of tariff on import.
Subpart (b):
To determine
Consumer surplus .
Subpart (c):
To determine
Consumer surplus.
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Students have asked these similar questions
8. Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government
B) The increase in producer surplus
c) The decrease in consumer surplus
D) The decrease in consumer surplus due to a drop in consumption
3|Page
9. Use the graph below and the following information to answer the next
question. The world price of soybeans is $2.00 per bushel, and the importing
country is small enough not to affect the world price.
2.25
2.00
World price
60 70
130 140
Qimillions bushels
Based on Figure above, suppose the government puts a tariff of $0.25 per bushel on
soybean imports. How much will the tariff reduce imports?
A) Imports will decrease by 10 million bushels.
B) Imports will decrease by 20 million bushels.
C) Imports will decrease by 60 million bushels.
D) Imports will not change after the tariff.
Use the Graph below to answer the questions about International Trade:
Price
P1
P2
P3
A
B
D
F
с
E
D
-Quantity
a. At equilibrium, what area represents Consumer Surplus? Blank 1 and Blank 2.
b. At equilibrium, what area represents Producer Surplus? Blank 3 and Blank 4.
c. Which Price Level would make this country become an importer of this good? Blank 5
d. Which Price Level would make this country become an exporter of this good? Blank 6
The following figure represents a small country imposing a tariff against the imports of a
good. The two horizontal line are the world price(pw) and the world price with tariffs (pw+t).
The other two curves are the Home Supply Curve(upward slopping) and the Home Demand
Curve(downward slopping). About this picture, what is true?
120
100
Price
60
80
60
00
40
30
20
Home Country
10
0
40
80
120
140
160
Demand Curve
Supply Curve
Pw
Pw+t
Chapter 9 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Economics
Ch. 9 - Prob. 9.1.1RQCh. 9 - Prob. 9.1.2RQCh. 9 - Prob. 9.1.3PACh. 9 - Prob. 9.1.4PACh. 9 - Prob. 9.1.5PACh. 9 - Prob. 9.2.1RQCh. 9 - Prob. 9.2.2RQCh. 9 - Prob. 9.2.3PACh. 9 - Prob. 9.2.4PACh. 9 - Prob. 9.2.5PA
Ch. 9 - Prob. 9.2.6PACh. 9 - Prob. 9.2.7PACh. 9 - Prob. 9.2.8PACh. 9 - Prob. 9.2.9PACh. 9 - Prob. 9.3.1RQCh. 9 - Prob. 9.3.2RQCh. 9 - Prob. 9.3.3RQCh. 9 - Prob. 9.3.4RQCh. 9 - Prob. 9.3.5PACh. 9 - Prob. 9.3.6PACh. 9 - Prob. 9.3.7PACh. 9 - Prob. 9.3.8PACh. 9 - Prob. 9.3.9PACh. 9 - Prob. 9.3.10PACh. 9 - Prob. 9.3.11PACh. 9 - Prob. 9.3.12PACh. 9 - Prob. 9.3.13PACh. 9 - Prob. 9.3.14PACh. 9 - Prob. 9.4.1RQCh. 9 - Prob. 9.4.2RQCh. 9 - Prob. 9.4.3PACh. 9 - Prob. 9.4.4PACh. 9 - Prob. 9.4.5PACh. 9 - Prob. 9.4.6PACh. 9 - Prob. 9.4.7PACh. 9 - Prob. 9.4.8PACh. 9 - Prob. 9.4.9PACh. 9 - Prob. 9.4.10PACh. 9 - Prob. 9.4.11PACh. 9 - Prob. 9.4.12PACh. 9 - Prob. 9.4.13PACh. 9 - Prob. 9.4.14PACh. 9 - Prob. 9.5.1RQCh. 9 - Prob. 9.5.2RQCh. 9 - Prob. 9.5.3RQCh. 9 - Prob. 9.5.4PACh. 9 - Prob. 9.5.5PACh. 9 - Prob. 9.5.6PACh. 9 - Prob. 9.5.7PACh. 9 - Prob. 9.5.8PACh. 9 - Prob. 9.5.9PACh. 9 - Prob. 9.5.10PACh. 9 - Prob. 9.1CTECh. 9 - Prob. 9.2CTECh. 9 - Prob. 9.3CTE
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