The following graph and questions refer to the demand and supply graph below showing the market for bananas in the United States.

Market for Bananas in the United States

6.1. Identify the equilibrium price and quantity of bananas before trade. (2 Marks)

6.2. Suppose banana producers from Honduras are willing to supply any quantity of bananas at a price of $.20 per pound. Draw the Honduran supply curve on the U.S. banana market in the diagram above. (3 Marks)

6.3 How many bananas will the United States producers supply after trade? (2 Marks)

6.4 How many bananas will the Honduran producers supply to U.S. consumers after trade?

(2 Marks)

6.5 How many bananas will United States consumers purchase after trade? (2 Marks)

6.6. Now suppose the United States imposes a $.20 per pound tariff on Honduran bananas. What is the new price of bananas in the United States? (2 Marks)

6.7 How many bananas will United States producer's supply after implementation of the tariff? (2 Marks)

6.8 How many bananas will Honduran producers supply after implementation of the tariff ?

(2 Marks)

6.9 How many bananas will the United States consumers purchase after implementation of the tariff? (2 Marks)

6.10 Calculate how much revenue will the tariff generate? Illustrate your answers on the graph.