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The exercise is in context with Tariff and non tariff measures: 4. The graph below shows an excess supply curve {ES} generated by a tariff

The exercise is in context with Tariff and non tariff measures:

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4. The graph below shows an excess supply curve {ES} generated by a tariff quota regime. The questions below ask you to introduce several elements into the graph. Make sure that you use the labels. as indicated in the questions! s Q=Q' Qmity Introduce an import demand function into the graph, labelled ID] , that represents import demand that is exactly equal to the quota level. Introduce an import demand function into the graph, labelled IDZ, that represents import demand at the out-of-quota tariff. Manipulate the excess supply function in a way that the out-ofquota tariff equals the inquota tariff. Label the new excess supply.r function ES]. After you have manipulated the excess supplyr function as demanded in question c): Is the quota quantity Q still relevant for imports

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