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If Zambia is open to international trade of oranges without any restrictions, it will import l:]tons of oranges. (Note: Be sure to enter the full
If Zambia is open to international trade of oranges without any restrictions, it will import l:]tons of oranges. (Note: Be sure to enter the full value for your answer, accounting for the horizontal axis units.) Suppose the Zambian government wants to reduce imports to exactly 120,000 tons of oranges to help domestic producers. A tariff of|:] per ton will achieve this. A tariff set at this level would raise |:] in revenue for the Zambian government. The following graph shows the domestic supply of and demand for oranges in Zambia. Zambia is open to international trade of oranges without any restrictions. The world price (Pw) of oranges is $770 per ton and is represented by the horizontal black line. Throughout this problem, assume that the amount demanded by any one country does not affect the world price of oranges and that there are no transportation or transaction costs associated with international trade in oranges. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 1090 1050 1010 970 930 890 850 810 PRICE (Dollars per ton) 770 730 690 S L 0 30 60 90 120 150 180 210 240 270 300 QUANTITY (Thousands of tons of oranges) Graph Input Tool Market for Oranges in Zambia Price (Dollars per ton) Domestic Demand (Thousands of tons of oranges) 970 90 l/_\\' @) Domestic Supply 210 (Thousands of tons of oranges)
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