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14. The US. demand for soy beans has been estimated as: P = 100 - 20 where P is price ($fton) and Q is sales

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14. The US. demand for soy beans has been estimated as: P = 100 - 20 where P is price ($fton) and Q is sales (tons per month). The U.S. domestic supply is expressed as: P = 5 + Q A typical rm in this market has a total cost function given as: C =100-20q + 2oz Suppose the world price is $10 and US. has a free trade with the rest of the world. 14.1 (apt) Please calculate the equilibrium output for a typical firm and the prot {or loss) earned by the typical rm under the free trade scenario. 14.2 (apt) Assuming the government imposes a import tariff of $10 per ton of soy beans. what is the deadweight loss compared to free-trade scenario

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