subject : international ecenomics

Suppose that the government in Jordan imposes quota of 50% of the current import amount.

a. Plot a graph to show the effects of the quota.

b. Show the new areas of consumer surplus, producer surplus, and any other relevant areas.

c. Show the deadweight losses due to the quota.

d. Who wins and who loses from the quota?

Summarize the effects (b, c, and d) under the graph.