1. Diberi keluk permintaan domestik bagi barang X di sebuah negara kecil adalah Qd+40P=160, manakala keluk penawaran domestik bagi barang X di negara itu pula adalah Qs40P=80. Given the domestic demand curve for good X in a small country is Qd+40P=160, while the domestic supply curve for good X in that country is Qs40P=80. (a) Tanpa perdagangan antarabangsa, apakah harga keseimbangan, kuantiti pengeluaran dan kuantiti penggunaan? In the absence of trade, what would be the equilibrium price, the quantity produced and the quantity consumed? (b) Import barang X wujud di pasaran dunia dengan harga Px=0.5. Lukiskan keluk penawaran total. Imports of good X are available in the world market with the price Px=0.5. Draw the total supply curve. (c) Andaikan negara tersebut mengenakan 80 peratus tarif ad valorem ke atas import barang X. Apakah nilai kesan penggunaan, kesan pengeluaran, kesan perdagangan, dan kesan hasil daripada tarif tersebut? Suppose that the country imposes an 80 percent ad valorem tariff on the imports of good X. What would be the value of consumption effect, production effect, trade effect, and revenue effect due to the tariff? (d) Kira dan terangkan kos dan faedah tarif tersebut? Calculate and explain costs and benefits of the tariff? (e) Berapakah kadar ad valorem minimum yang akan mewujudkan tarif larangan dalam kes di atas? What would be the minimum ad valorem rate which would create the tariff prohibitive in the above case? (g) Andaikan negara tersebut mengenakan kuota import 20 unit barang X. Apakah nilai kesan penggunaan, kesan pengeluaran, kesan perdagangan, dan kesan hasil daripada kuota tersebut? Suppose that the country imposes an import quota of 20 units of good X. What would be the value of consumption effect, production effect, trade effect, and revenue effect due to the quota? (h) Pihak manakah yang untung dan pihak manakah yang rugi daripada perlaksanaan kuota? Adakah yang berlaku pada kebajikan negara? Tunjukkan dan terangkan kerja anda. Which party would gain and which party would lose from the implementation of the quota? What would happen to the welfare of the country? Please show and explain your work