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Why was Rice Tarrification Law became a law in the Philippines?
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- Why is there a price hike in sugar in the Philippines?what bring about an increase in the number of a new product in the Nigeria marketThe table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity demanded (lb) Cameroon quantity supplied (lb) Nigeria quantity demanded (lb) Nigeria quantity supplied (lb) 8 180 500 155 210 7 200 460 180 180 6 250 410 200 160 5 280 360 220 140 4 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries?
- how can price controls be used to avoid prices from increasing furtherMuch of the demand for U.S. agricultural output has come from other countries. In 1998, the total demand for wheat was Q = 3244 - 283P. Of this, total domestic demand was QD = 1700 - 107P, and domestic supply was QS =1944 + 207P. Suppose the export demand for wheat falls by 40%. a. U.S. farmers are concerned about this drop in export demand. What happens to the free-market price of wheat in the United States? Do farmers have much reason to worry? b. Now suppose the U.S. government wants to buy enough wheat to raise the price to $3.50 per bushel. With the drop in export demand, how much wheat would the government have to buy? How much would this cost the government?Recently, China placed tariffs on the importation of US soybeans. Assume that the domestic market for soybeans in China is described by the following equations: Demand: P = 11.5 – Q Supply: P = 5.5 + Q Price is in 10 Yuan (¥) per bushel of soybeans and the units for Quantity are 100 million bushels per year. This is to make graphing simpler. This does NOT mean that the price is 10 and quantity is 100. Rather it means that if the price was 40¥ and the quantity was 7,500,000,000 bushels, this would plot as 4 and 7.5 respectively. The world price for soybeans is ¥65/bushel (this would graph as 6.5). Graph the soybean market in China showing equilibrium both with no barriers to trade and with a ¥15/bushel tariff. Be sure to fully and clearly label the graph including: Domestic Demand curve (D), Domestic Supply curve (S), the World Price (WP), and the Price with tariffs (PT). Based on your graph for question 3, what amount of soybeans will China import from the US if there are no…
- Recently, China placed tariffs on the importation of US soybeans. Assume that the domestic market for soybeans in China is described by the following equations: Demand: P = 11.5 – Q Supply: P = 5.5 + Q Price is in 10 Yuan (¥) per bushel of soybeans and the units for Quantity are 100 million bushels per year. This is to make graphing simpler. This does NOT mean that the price is 10 and quantity is 100. Rather it means that if the price was 40¥ and the quantity was 7,500,000,000 bushels, this would plot as 4 and 7.5 respectively. The world price for soybeans is ¥65/bushel (this would graph as 6.5). Graph the soybean market in China showing equilibrium both with no barriers to trade and with a ¥15/bushel tariff. Be sure to fully and clearly label the graph including: Domestic Demand curve (D), Domestic Supply curve (S), the World Price (WP), and the Price with tariffs (PT).Suppose that, as part of an international trade agreement, the U.S. government reduces the tariff on imported coffee. Will this affect the supply or the demand for coffee? Why?The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity demanded (lb) Cameroon quantity supplied (lb) Nigeria quantity demanded (lb) Nigeria quantity supplied (lb) 88 180180 500500 155155 210210 77 200200 460460 180180 180180 66 250250 410410 200200 160160 55 280280 360360 220220 140140 44 320320 320320 240240 125125 33 350350 280280 260260 115115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? price, Cameroon: $ quantity demanded, Cameroon: lb price, Nigeria: $ quantity demanded, Nigeria: lb
- If the US government reduces the tariff on imported coffee will this affect the supply or the demand for coffeeIn autarky, what would the equilibrium price and quantity be in Peru and Moldova?The traditional diet of the citizens of the nation of Ironia includes a lot of red meat, and ranchers make up a vital part of Ironia's economy. The government of Ironia decides to support its ranchers through a price floor, which it will maintain by buying up excess meat supplies. The table below shows the supply and demand schedule for red meat; quantities are given in thousands of kilos. Quantity demanded (thousands of kg) Quantity supplied (thousands of kg) Price ($) 5 80 5 20 70 4 35 60 3 50 50 2 65 40 1 80 30 Instructions: Round your answers to the nearest whole number. a. How many thousands of kilos of meat would you recommend that the government purchase to keep the price at $4 per kilo? |thousand kilo b. How much money should the government budget for this program? %24