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Need answers to questions below please. Part II. Problem-solving questions Consult Figure below to nish blanks in Question 16 and 17. Curve SS represents a

Need answers to questions below please.

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Part II. Problem-solving questions Consult Figure below to nish blanks in Question 16 and 17. Curve SS represents a domestic supply curve for some good X; ifX is a competitive industry, then 55' represents the horizontal sum of the marginal cost curves ofmany rms. Curse DD represents domestic demand for the same good. It is implicitly assumed that consumers do not care where the good was made; they simply want to buy the indicated quantities at the indicated prices. Price Quantity of X 16. The marketclearing price in the absence of trade is $ A , and B units ofX would be demanded and supplied domestically at that price. If the world price of $5 were allowed to prevail, though, then C units of X would be supplied, D units would be demanded domestically, and E units would be imported. (Round your answer to two decimal places unless it is an integer. Please do NOT include words or \"$\" in your answer.) Your Answers: A: 313 B: units C: units D: units E: units Now suppose that the domestic government has been convinced somehow to restrict imports by 50 percent. A tariff of$ F per unit imported would do the trick, but it would raise the domestic price to if: G . At that price, H units would be demanded, l_units would be supplied domestically, anquunits would be iInported. (Round your answer to two decimal places unless it is an integer. Please do NOT include words or \"$\" in your answer.) Your Answers: :$ 21$ units units 'wpmm units

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