the figure given below shows the US market for imported apricots. for somplicity we consider export supply curves to be flat. spanish apricots is abaliable for $75 per bushel and south african apricots for $25 per bushel:

how much will the U.S. Net tarrif revenue change via joining FTA with spain?

after joining FTA with spain, what is thr net change in US consumer surplus?

calculate the gain arising from an increase in net colume of trade after US joins FTA

what is the national welfare loss to US from joining FTA?

'chir CALIFORNIA STATE UNIVERSITY - FULLERTON Econ 335 - International Economy In-class Exercise - Export Subsidy and Trade Blocs 4. The figure given below shows the U.S. market for imported apricots. For simplicity, we consider export supply curves to be flat Spanish apricots is available for $75 per bushel and South African apricots is available for $25 per bushel. Price per bag S100 S75 Initial price in U.S. Spanish price South African price $25 US demand for imported apricots Quantity (millions of bags per year) 25 0 100 SO 2. How many apricots is U.S. importing under free trade? 100 b. Suppose that US imposes tariffs of S75 on apricots. How many apricots will U.S. now import? 25 c. If US joins FTA with Spain, how many apricots will U.S. now import? 50 d. After joining FTA with Spain, what is the net change in U.S. consumer surplus? 1/2 (50-25) (100-75) = 312.5 e. How much will the U.S.net tariff revenue change via joining FTA with Spain? f. Calculate the gain arising from an increase in net volume of trade after US joins FTA (1... differential between trade w/tariff and trade w/FTA)? g. What is the national welfare loss to U.S. from joining FTA? 4