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Safari File Edit View History Bookmarks Develop Window Help Q Mon Apr 19 7:26 PM . . . [ 0 laecon1.lyryx.com Slides Tell me Share Question 2 [18 points] The domestic demand for bicycles is given by P = 90 - Q. The supply of domestic producers is given by P = 10 + Q, and the international supply by P = Drawing Design 20. Ideas Note: For each graphing question, select the proper drop-down for the graph and plot the lines using two points. Round your numerical values to the nearest whole digit. Supply Line with Subsidy idy The DWL reflects the additional higher cost of mestic domestic pply curve ket share. producers relative 90 to international producers who S' with a per- have been unit subsidy squeezed out of 75- the market World supply price 60 Price ($) + 45- 30- 15- LSD 0 10 20 30 40 50 60 70 80 90 100 working Rate the answer Reset Quantity (bicycles) swer a) Draw the supply curve, the demand curve, and the world price line. What are the amounts supplied by domestic suppliers and by foreign suppliers. Amount supplied by domestic suppliers = 0 bicycles Amount supplied by foreign suppliers = 0 bicycles N 201 b) If the government gives a production subsidy of $10 per unit on the domestic suppliers in order to increase their competitiveness draw the new supply APR 19 4 PSafari File Edit View History Bookmarks Develop Window Help $ D. Q Mon Apr 19 7:26 PM laecon1.lyryx.com Slides Tell me Share 60- Price ($) 45- Drawing Design Ideas 30 dy The DWL reflects 15- the additional higher cost of mestic domestic Sp oply curve ket share. producers relative to international 0 20 30 40 50 60 70 80 90 100 producers who have been Reset Quantity (bicycles) S' with a per- unit subsidy squeezed out of the market World supply price a) Draw the supply curve, the demand curve, and the world price line. What are the amounts supplied by domestic suppliers and by foreign suppliers. Amount supplied by domestic suppliers = 0 bicycles + Amount supplied by foreign suppliers = 0 bicycles b) If the government gives a production subsidy of $10 per unit on the domestic suppliers in order to increase their competitiveness, draw the new supply curve with the subsidy and compute the new quantities supplied by domestic and foreign producers. Amount supplied by domestic suppliers (with subsidy) = 0 bicycles Amount supplied by foreign suppliers (with subsidy) = 0 bicycles c) What is the cost to the government of this scheme? working Rate the answer swer Subsidy Cost = $ 0 Official Time: 19:26:30 SUBMIT AND MARK SAVE AND CLOSE N 201 APR 19 4 O P