Question
Please help with follows three questions! Thank you! Suppose that consumer demand is given by this equation: P = 10 - Q . What is
Please help with follows three questions! Thank you!
Suppose that consumer demand is given by this equation:P= 10 -Q. What is the value of consumer surplus whenP= 5?
Group of answer choices
A.$12.50
B.$50
C.$25
D.$5
Suppose that the United States is a large country. In fall 2009, the United States imposed tariffs on tires imported from China. The deadweight losses of these tariffs were larger than the terms-of-trade gains to the U.S. economy. Who was better off and who was worse off as a result of these tariffs?
Group of answer choices
A.U.S. tire workers, U.S. consumers, and Chinese tire producers were all worse off.
B.U.S. tire workers and U.S. consumers were better off; Chinese tire producers were worse off.
C.U.S. tire workers were better off; U.S. consumers and Chinese tire producers were worse off.
D. U.S. tire workers and Chinese tire producers were better off; U.S. consumers were worse off.
The following table gives the hypothetical supply and demand of television sets in Guatemala. Guatemala is a small country that is unable to affect world prices. The world price (free-trade price) is $300 per TV set.
Who will benefit from Guatemala's 100% tariff on imported TVs?
A.Guatemala's TV producers
B.Guatemala's TV importers
C.foreign TV manufacturers
D.Guatemala's consumers
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