The figure provided shows the market for calculators. Price of calculators $45 40- 30- 20 20 10 10 5 S world price with tariff world price D 50 100 200 300 400 500 600 700 800 900 Quantity of calculators After the $15 tariff is imposed, producer surplus is: $10,000. $3,000. $6,250. $2,000.
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- The figure to the right shows the U.S. demand and supply for leather footwear. Under autarky, the consumer surplus is area OA. S + V OB. R. OC. S. OD. R+S+V. Price $54 30 24 0 R S V W Q TU X Y Q₁ Q₂ US Supply World price US Demand Quantity of leather footwearQUESTION 3 The U.S. Market for Computers sdamertie pply curre) Domestic price writh tanif Wadd price 2.000 D domestic de mandauve) 200 Quantity (thourande of unta) 100 120 I90 Referring to the above figure, how much revenue will the US government collect as a result of the tariff on computers? a. $168 millisn Ob. $76 million OC $28 million d. $280,000The demand and supply for houses (in millions of houses per year) is shown below. If the worldwide price of houses is $350,000, the international housing market would: Quantity Demanded Quantity Supplied Price per Home 350,000 340,000 330,000 320,000 U.S. Residents 10 20 40 60 Rest of World 15 25 45 65 Experience a shortage Experience a surplus Be at equilibrium Worldwide Market Price per Home 350,000 340,000 330.000 320,000 U.S. Residents 30 25 20 15 Rest of Worldwide World Market 40 35 30 25
- According to the figure below, area "a" represents was placed on imported engines. after a tariff of Price 2,000 Domestic 1,000 supply. Domestic demand e 400 C d. b 200 500 1,000 Quantity of engines Select one: a. reduced consumer surplus, $200 b. increased producer surplus, $200 C. reduced consumer surplus; $400 d. increased consumer surplus, $400okmarks Profiles Tab Window Help oard.com/ultra/courses/_165411_1/cl/outline pearson/MyLab M... W WordCounter O Quizlet Ly LaundryView Question Completion Status: Figure 9-26 The diagram below illustrates the market for baseballs in the U.S. Price 20 Domestic Supply 18 16 14 World Price 12 10 Domestic Demand 250 500 750 1000 1250 1500 Quantity of Baseballs Refer to figure 9-26. Consumer surplus in the U.S. prior to the opening of the baseball market to international trade is the area O a. A O b. A + B+E O c.C +F O d. A+B + C Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers C13 NOV éty 14If the US government reduces the tariff on imported coffee will this affect the supply or the demand for coffee
- An agreement is reached by OPEC to reduce the supply of oil on world market for oil. Usedemand and supply curves to illustrate and explain the impact this will have on the marketfor oil. How will it affect the equilibrium price and quantity of oilThe figure provided shows the market for calculators. Price of calculators 5454 40 30 20 10 5 world price with tariff 1 50 100 200 300 400 500 600 700 800 900 Quantity of calculators Consumer surplus at the world price, $5, is: $125. $900. $16,000. $4,000. world price D Next1. Graph and explain what happens in the market for cirgarettes when taxes go up by $1 2. Graph and explain the impact of a tariff on Japanese cars on the market for Japanese Cars? 2b. What happens in the market for American cars and why do domestic manufacturers like tariffs? 3. What happens in the market for hotel rooms when the government announces that it is safe to travel again?
- Look at the tables below. Person Bob Barb Bill Bart Brent Betty $ Maximum Price Willing to Pay $17 14 13 12 11 10 Person Carlos Courtney Chuck Cindy Craig Chad Instructions: Enter your answers as a whole number. a. What is the total surplus if Bob buys a unit from Carlos? $ b. What is the total surplus if Barb buys a unit from Courtney? $ c. What is the total surplus if Bob buys a unit from Chad? Minimum Acceptable Price $6 7 8 9 10 11 d. If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?The graph shows the car market in Mexico when Mexico places no restriction on the quantity of cars imported. The world price of a car is $10,000. Suppose the government of Mexico introduces an import quota on imported cars of 4 million a year. Draw a line that shows the effect of the import quota on supply. Label it S + quota. Label it. Draw a point to show the quantity of cars bought in Mexico and the price paid. When the government of Mexico introduces an import quota of 4 million cars, Mexico imports nothing million cars and produces nothing million cars.If the United States implements a subsidy on domestic salmon, this will Question 5Answer a. increase the amount of salmon imported into the United States and increase the production of salmon in the United States. b. reduce the amount of salmon imported into the United States and reduce production of salmon in the United States. c. increase the amount of salmon imported into the United States and reduce the production of salmon in the United States. d. reduce the amount of salmon imported into the United States and increase the production of salmon in the United States. Clear my choice CheckQuestion 5
