How would you put these on a graph?

a)Before a tariff is imposed, what is the U.S. equilibrium price? Quantity of domestic consumption? Quantity of domestic production? And quantity of imports?

(QS = Domestic Production)

-10,000 + (1,000 x 24) = 14,000

QS=14,000

(QD = Consumption)

100,000 - (2,000 x 24) = 52,000

QD = 52,000

QD-QS=52,000-14,000=38,000

Quantity of Imports = 38,000

b)Congress has decided to help the baseball manufacturing industry by imposing a tariff of $6 per dozen. What is the new equilibrium price? Quantity of domestic consumption quantity? Quantity of domestic production? And quantity of imports?

$24 + $6=$30

Equilibrium Price = $30

QD = 100,000 - (2,000 x 30)

= 100,000 - 60,000

= 40,000

QS = 10,000 + (1,000 x 30)

= 10.000 + 30,000

= 20,000

QD - QS = 40,000 - 20,000

Import = 20,000

c)What are the losses to U.S. consumers, gains to U.S. producers, revenue gained by the government, and deadweight loss from the tariff? (Answer in $.)

Consumer Surplus = (CS)

QD = 0

P = 100,000/2,000 = $50

Before Tariff

CS = 0.5 x ($50-$24) x 52,000

26,000 x $26 = 13

13 x 52,000 = $676,000

After Tariff

CS = 0.5 x ($50 -30) x 40,000 = 20,000

20,000 x $20 = $400,000

$676,000 - $400,000 =$276,000

Loss in US Consumers =$276,000

Producer Surplus = (PS)

QS = 0

P = 10,000/1,000 = $10

Before Tariff

PS = 0.5 x ($24 - $10) = 7,000

7,000 x $14 = $98,000

After Tariff

PS = 0.5 x ($30 - $10) = 10,000

10,000 x $20 = $200,000

$200,00 - $98,000 = $102,000

Gains in US Producers = $102,000

Revenue gained by government = $6 x $200,000 = $120,000

Deadweight Loss = $276,000 - $120,000 - 102,000 = $54,000

0.5 (43-60) x ($16,000 - $14,000) = -$17,000

Deadweight Loss from Tariff =- $17,000

d)What quota level would have the equivalent effect on price as the $6 tariff?

An amount of 20,000 units from imports would have a equivalent effect.

e ) What is the deadweight loss from the quota? (Answer in $.)

Equilibrium Price = $24 (With no Tariff)

(Consumption) = QD = $100,000 - $2,000 ($24) = $52,000

(Domestic Supply) = QS = $100,000 + 1,000 ($24) = $14,000

Imports = $52,000 - $14,000 = $38,000

New Equilibrium Price = $24 + $6 = $30

(Consumption) = QD = $100,000 - $2,000 ($30) = $40,000

(Domestic Supply) = QS = $100,000 + 1,000 ($30) = $20,000

Imports = $40,000 - $20,000 = $20,000