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shayeshaye00 shayeshaye00
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Posts: 506
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4 years 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

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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Matt. D.Matt. D.
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Posts: 392
Rep: 63 0
4 years ago
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shayeshaye00 Author
wrote...
#2
4 years ago
Thank you for answering so quickly
wrote...
#3
4 years 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...
#4
4 years ago

Answer 1

20 units



Answer 2

10 units
wrote...
#5
4 years 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...
#6
4 years ago

Answer 1

10 units



Answer 2

$40.
wrote...
#7
4 years ago
Brilliant
wrote...
#8
4 years 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...
#9
4 years ago

Answer 1

$320.



Answer 2

E.
wrote...
#10
4 years 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...
#11
4 years ago

Answer 1

6 million pounds of rice.



Answer 2

to fall by 11 million pounds.
wrote...
#12
4 years ago
Thanks
wrote...
#13
4 years 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. 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
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