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shayeshaye00 shayeshaye00
wrote...
Posts: 345
A week ago

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

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Answer verified by a subject expert
uglyboy121uglyboy121
wrote...
Posts: 317
A week ago
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Answer 1

$0.



Answer 2

$18

1

Related Topics

wrote...
A week ago
Thank you for answering so quickly
wrote...
A week ago
Was feeling bored, my pleasure Grinning Face with Smiling Eyes
wrote...
A week ago

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

wrote...
A week ago

Answer 1

20 units



Answer 2

10 units

wrote...
A week ago

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.

wrote...
A week ago

Answer 1

10 units



Answer 2

$40.

wrote...
A week ago
Brilliant
wrote...
A week ago

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.

wrote...
A week ago

Answer 1

$320.



Answer 2

E.

wrote...
A week ago

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.

wrote...
A week ago

Answer 1

6 million pounds of rice.



Answer 2

to fall by 11 million pounds.

wrote...
A week ago
Thanks
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