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Can anyone please help with these economic problems? I really need an expert's help!! Problem 2: Suppose that Home's domestic market for wine is Meal?

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Can anyone please help with these economic problems?

I really need an expert's help!!

image text in transcribed
Problem 2: Suppose that Home's domestic market for wine is Meal? commve. Demand is linear so that every time price changes by $1, quantity-demanded changes by 20. At the world price of $50, Home consumes 2425 bottles of wine per year. Also, MC = 25 + QJZS. 3. Find the supply and demand equations and solve for Home's equilibrium price and quantity. b. Calculate the amount of Home's imports at the world price of $50. Suppose that Home is a small importer of wine imposing a $20 import tariff on wine bottles. Use a graph to compare free trade with the tariff. Determine the vertical inter-3,213 in your supply and demand diagram and solve for the changes in consumer surplus, producer surplus, government revenue, and net domestic welfare? 5" d. Suppose Home has signed an international agreement not to increase tariffs, so it imposes an import quota of 900 instead. Solve for the quota equilibrium by setting Qd 900 = Q5

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