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The domestic supply and demand curves for Jolt coffee beans are given by P: 30 +10 and P: 150 30, respectively, where Pis the price

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The domestic supply and demand curves for Jolt coffee beans are given by P: 30 +10 and P: 150 30, respectively, where Pis the price in dollars per bushel, and G is the quantity in millions of bushels per year. The United States produces and consumes only a trivial fraction of world Jolt bean output, and the current world price of $45/bushel is unaffected by events in the U.S. market. Transportation costs are also negligible. Instructions: Enter your answer for price to the nearest dollar. For the number of bushels, enter your answer rounded to 1 decimal place. a. How much will US. consumers pay for a bushel of Jolt coffee beans, and how many bushels per year will they consume? Price: $ fbushel Number of bushels: million bushels peryear. Instructions: Enter your answer for price to the nearest dollar. For the number of bushels, enter your answer to the nearest million. b. How will your answers to part (a) change if Congress enacts a tariff of $10/bushel? Price: $ fbushel Number of bushels: million bushels peryear Instructions: Round your answer for producer and consumer surplus to the nearest penny (2 decimal places). For revenue, enter your answer to the nearest million. v Instructions: l:nter your answer for price to the nearest dollar. lor the number 01 bushels, enter your answer rounded to 1 decimal place. a. How much will U.S. consumers pay for a bushel of Jolt coffee beans, and how many bushels per year will they consume? Price: $ fbushel Number of bushels: million bushels per year. Instructions: Enter your answer for price to the nearest dollar. For the number of bushels, enter your answer to the nearest million. b. How will your answers to part (a) change if Congress enacts a tariff of $10/bushel? Price: $ [bushel Number of bushels: million bushels per year Instructions: Round your answer for producer and consumer surplus to the nearest penny (2 decimal places). For revenue, enter your answer to the nearest million. c. What total effect on domestic producer and consumer surplus will the tariff have? How much revenue will the tariff raise? Consumer and producer surplus: (Click to select] v by $ r'yr Revenue: $

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