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dont use cheggg gg answeres please!!!!!!!!!!! The demand and supply of e-scooters in UAE, a small economy, is given in the table below. Price (AED)
dont use cheggg gg answeres please!!!!!!!!!!!
The demand and supply of e-scooters in UAE, a small economy, is given in the table below.
Price (AED) | Quantity demanded | Quantity supplied |
0 | 28 | 0 |
100 | 26 | 2 |
200 | 24 | 4 |
300 | 22 | 6 |
400 | 20 | 8 |
500 | 18 | 10 |
600 | 16 | 12 |
700 | 14 | 14 |
800 | 12 | 16 |
900 | 10 | 18 |
1000 | 8 | 20 |
a). Sketch the demand and supply in the grid provided below [1 mark]
b). India and Turkey can supply UAE with e-scooters at AED500 in free trade. But currently UAE has imposed a AED100 per unit import tariff on e-scooters from both countries. Suppose UAE and India form a customs union. Identify on the graph AND compute the trade creation and trade diversion (if any). [3 marks]
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