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International Trade The demand for face masks in the United States is Q = 100 - 20P The supply of face masks in the United
International Trade The demand for face masks in the United States is Q = 100 - 20P The supply of face masks in the United States is Q = 5P where Q is the quantity of face masks and P is the price per face mask. Face masks are imported into the United States and the current world price is $0.50. If there is free trade (no trade restrictions), a. Calculate the number of imports = face masks are imported Now suppose there is a $1 tariff placed on imported face masks. b. Calculate the new price for a face mask = $ C. face masks are demanded and face masks are supplied and face mask are imported. d. The deadweight loss from this tariff is $ (enter your responses rounded to two decimal places)
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