The following graph shows the domestic supply of and demand for wheat in Bangladesh. The world price (Pw) of wheat is $245 per bushe represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect price of wheat and that there are no transportation or transaction costs associated with international trade in wheat. Also, assume that don suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Domestic Supply 515 Domestic Demand 485 455 425 305 365 335 305 275 P W 245 215 10 20 30 40 50 60 70 80 90 100 QUANTITY (Bushels of wheat) PRICE (Dollars per bushel)
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- The following graph shows the domestic supply of and demand for wheat in New Zealand. The world price (PWPW) of wheat is $255 per bushel and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of wheat and that there are no transportation or transaction costs associated with international trade in wheat. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place.The following graph shows the domestic supply of and demand for maize in Bangladesh. The world price (Pw) of maize is $255 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 455 Domestic Demand Domestic Supply 430 405 380 355 330 305 280 Pw 255 230 205 200 250 300 350 400 450 500 QUANTITY (Tons of maize) If Bangladesh is open to international trade in maize without any restrictions, it will import 300 tons of maize. Suppose the Bangladeshi government wants to reduce imports to exactly 100 tons of maize to help domestic producers. A tariff of $ per ton will achieve this. A tariff set at this level would raise $ in revenue for the…The following graph shows the domestic supply of and demand for maize in Burundi. The world price (Pw) of maize is $270 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 450 Domestic Demand Domestic Supply 430 410 390 370 350 330 310 290 P 270 250 40 80 120 180 200 240 280 320 360 400 QUANTITY (Tons of maize) If Burundi is open to international trade in maize without any restrictions, it will import tons of maize. Suppose the Burundian government wants to reduce imports to exactly 160 tons of maize to help domestic producers. A tariff of per ton will achieve this. A tariff set at this level would raise $ in revenue for the…
- The following graph shows the domestic supply of and demand for maize in Burundi. The world price (Pw) of maize is $260 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 530 Domestic Demand Domestic Supply 500 470 440 410 380 350 320 270, 260 290 260 230 30 60 90 120 150 180 210 240 270 300 QUANTITY (Tons of maize) PRICE (Dollars per ton)The following graph shows the domestic supply of and demand for soybeans in Honduras. The world price (Pw) of soybeans is $535 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Domestic Demand Domestic Supply/ 75 CUANTITY (Tone of soytears Focus D 國 nere to search TX 器 投 孔The figure below shows the hypothetical domestic supply and demand for baseball caps in the country of Spain. Domestic Supply and Demand for Baseball Caps Spain 10 Sa 8 X 2 1 0 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €1 and there are no Import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and Imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand b. What quantity of baseball caps will be imported? thousand Now suppose a tariff of €3 is levied against each Imported baseball cap. c. After the tariff is Implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand d. After the tariff Is Implemented, what quantity of baseball caps will be imported? thousand Price (€ per cap) 65 3₂
- The following graph shows the domestic supply of and demand for maize in Guatemala. The world price (Pr) of maize is $255 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 435 Domestic Demand Domestic Supply 415 305 375 355 X 335 315 295 275 Pu W 255 235 0 40 80 300 400 120 100 200 240 280 320 QUANTITY (Tons of maize) If Guatemala is open to international trade in maize without any restrictions, it will import. tons of maize. per ton will Suppose the Guatemalan government wants to reduce imports to exactly 80 tons of maize to help domestic producers. A tariff of S achieve this. A tariff set at this level would raise $ in revenue…The figure below shows the hypothetical domestic supply and demand for baseball caps In the country of Spaln. Domestic Supply and Demand for Baseball Caps Spain 10 9. 8. 1 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €3 and there are no Import restrictions on this product. Assume that Spanish consumers are Indifferent between domestic and Imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestc consumers? 10 O thousand b. What quantity of baseball caps will be Imported? 80 thousand Now suppose a tariff of €2 is levied agalnst each Imported baseball cap. C. After the taniff is Implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? 20 thousand d. After the tariff Is Implemented, what quantity of baseball caps will be Imported? 60 thousand Price (€ per cap)The following graph shows the domestic supply of and demand for soybeans in Guatemala. The world price (Pw ) of soybeans is $520 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 880 Domestic Demand Domestic Supply 840 800 760 720 680 640 600 560 P 520 480 10 20 30 40 50 60 70 80 06 100 QUANTITY (Tons of soybeans) If Guatemala is open to international trade in soybeans without any restrictions, it will import| tons of soybeans. Suppose the Guatemalan government wants to reduce imports to exactly 40 tons of soybeans to help domestic producers. A tariff of $ per ton will achieve this. A tariff set at this level would raise $ in…
- The following graph shows the domestic demand for and supply of oranges in Honduras. The world price (Pw) of oranges is $550 per ton and is displayed as a horizontal black line. Throughout the question, assume that all countries under consideration are small, that is, the amount demanded by any one country does not affect the world price of oranges and that there are no transportation or transaction costs associated with international trade in oranges. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. PRICE (Dollars per ton) 865 830 795 760 725 690 655 620 585 550 515 0 Domestic Demand 40 80 Domestic Supply PW 120 160 200 240 280 320 360 400 QUANTITY (Tons of oranges) ?The figure below shows the hypothetical domestic supply and demand for baseball caps in the country of Spain. Domestic Supply and Demand for Baseball Caps Spain 10 9. 8. 7 6. 5 4 3 2 1 Da 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €3 and there are no import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand b. What quantity of baseball caps will be imported? thousand Now suppose a tariff of €2 is levied against each imported baseball cap. c. After the tariff is implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand d. After the tariff is implemented, what quantity of baseball caps will be imported? thousand Price (€ per cap)Consider a small country where the domestic market for sandals is described by the following demand and supply equations, respectively: P = 100 – (1/3)Q and P = 20 + (1/2)Q where P represents the price of a pair of sandals and Q represents the quantity of sandals. The world price for a pair of sandals is $60. Therefore the gains from trade would be