Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: shayeshaye00 on Oct 9, 2019
Question 1.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Under autarky, the deadweight loss is
▸
$0.
▸
$15.
▸
$40.
▸
$30.
Question 2.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
▸
$10
▸
$18
▸
$24
▸
>$24
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: Matt. DeSouza on Oct 9, 2019
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: shayeshaye00 on Oct 9, 2019
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: melinoma86 on Oct 9, 2019
Question 1.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?
▸
5 units
▸
10 units
▸
15 units
▸
20 units
Question 2.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the domestic quantity supplied?
▸
5 units
▸
10 units
▸
15 units
▸
20 units
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: anthead on Oct 9, 2019
Answer 1
20 units
Answer 2
10 units
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: mrive3127 on Oct 9, 2019
Question 1.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity of imports?
▸
5 units
▸
10 units
▸
15 units
▸
20 units
Question 2.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. The market price falls to $18. What is the value of domestic producer surplus?
▸
$0.
▸
$40.
▸
$320.
▸
$360.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: emnevius on Oct 9, 2019
Answer 1
10 units
Answer 2
$40.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: mrive3127 on Oct 9, 2019
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: trea48 on Oct 9, 2019
Question 1.
Figure 9-1
Figure 9-1 shows the U.S. demand and supply for leather footwear.
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. The market price falls to $18. What is the value of consumer surplus?
▸
$0
▸
$270
▸
$305
▸
$320.
Question 2.
Figure 9-2
Suppose the U.S. government imposes a $0.40 per pound tariff on rice imports. Figure 9-2 shows the impact of this tariff.
Refer to Figure 9-2. The tariff revenue collected by the government equals the area
▸
E.
▸
B + D + E + F.
▸
D + E + F.
▸
C + D + E + F.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: purplepanda1516 on Oct 9, 2019
Answer 1
$320.
Answer 2
E.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: Lopezj273 on Oct 9, 2019
Question 1.
Figure 9-2
Suppose the U.S. government imposes a $0.40 per pound tariff on rice imports. Figure 9-2 shows the impact of this tariff.
Refer to Figure 9-2. As a result of the tariff, domestic producers increase their quantity supplied by
▸
31 million pounds of rice.
▸
22 million pounds of rice.
▸
15 million pounds or rice.
▸
6 million pounds of rice.
Question 2.
Figure 9-2
Suppose the U.S. government imposes a $0.40 per pound tariff on rice imports. Figure 9-2 shows the impact of this tariff.
Refer to Figure 9-2. The tariff causes domestic consumption of rice
▸
to fall by 27 million pounds.
▸
to fall by 11 million pounds.
▸
to rise by 16 million pounds.
▸
to rise by 6 million pounds.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: Jlynn on Oct 9, 2019
Answer 1
6 million pounds of rice.
Answer 2
to fall by 11 million pounds.
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: Lopezj273 on Oct 9, 2019
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: ujesssss on Oct 9, 2019
Question 1.
Figure 9-2
Suppose the U.S. government imposes a $0.40 per pound tariff on rice imports. Figure 9-2 shows the impact of this tariff.
Refer to Figure 9-2. If the tariff was replaced by a quota which limited rice imports to 16 million pounds, the amount of revenue received by rice importers would equal
▸
$16 million.
▸
$19.8 million.
▸
$9.6 million.
▸
$6.4 million.
Question 2.
Figure 9-3
Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 9-3 illustrates the impact of the quota.
Refer to Figure 9-3. With a quota in place, what is the quantity supplied by domestic producers?
▸
8 million pounds
▸
10 million pounds
▸
16 million pounds
▸
18 million pounds
Title: Figure 9-1 shows the U.S. demand and supply for leather footwear.
Post by: gtur on Oct 9, 2019
Answer 1
$16 million.
Answer 2
18 million pounds