Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

:> Question 26 w 3 pts Price (dollars per battery) 0 l00 300 500 700 900 |,|00|.300 Quantity (thousands of batteries) 26. The above gure

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
:> Question 26 w 3 pts Price (dollars per battery) 0 l00 300 500 700 900 |,|00|.300 Quantity (thousands of batteries) 26. The above gure shows the US. market for replacement cell phone batteries. After the tariff is imposed, the United States imports ________ batteries. Note: Ignore the letters A, B, C, D, E - they have nothing to do with this question. 600,000 0 200,000 0 800,000 0 400,000 W Price Quantity supplied Quantity demanded (dollars per unit) (units per day) (units per day) 21 130 50 18 110 90 15 90 130 12 70 170 9 50 210 27. The U.S. imports cheese from a variety of countries. The table above gives the domestic supply of, and demand for, cheese in the US. The world price of cheese is $12 per pound, and trade has been unrestricted up to now. If a $3 per pound tariff is imposed, how many pounds of cheese are imported into the U.S.? 0 170,000 (9 60,000 0 100,000 Wesmn 64 W 5 pts Price (dollars per diamond) 0 IOO 300 500 700 900 |.|00|.300 Quantity (thousands of diamonds) 32. The above figure shows the US. market for 1-carat diamonds. Once the quota is imposed, the United States imports diamonds. Note: Ignore the letters A, B, C, D - they have nothing to do with this question. @ 500,000 0 700,000 0 400,000 0 900,000 Price Quantity supplied Quantity demanded (dollars per unit) (units per day, in thousands) (units per day, in thousands) 21 125 50 18 110 90 15 85 130 12 70 170 9 55 210 28. The U.S. imports cheese from a variety of countries. The table above gives the domestic supply of, and demand for, cheese in the U.S. The world price of cheese is $12 per pound, and trade has been unrestricted up to now. If a $3 per pound tariff is imposed, how much is the tariff revenue? O $225,000 $135,000 O $185,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commercial Fishing On The Outer Banks

Authors: R Wayne Gray, Nancy Beach Gray

1st Edition

1439667055, 9781439667057

More Books

Students also viewed these Economics questions

Question

Define the concept of functional autonomy as employed by Allport.

Answered: 1 week ago