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Your opinion please, no citation Price (dollars per pound) Quantity supplied (thousands of pounds per year) Quantity demanded (thousands of pounds per year) 21 120

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Your opinion please, no citation

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Price (dollars per pound) Quantity supplied (thousands of pounds per year) Quantity demanded (thousands of pounds per year) 21 120 60 18 100 100 15 80 140 12 60 180 9 40 220 1. The United States imports cheese from a variety of countries. The table gives the domestic supply of, and demand for, cheese in the United States. The world price of cheese is $12 per pound, and trade is unrestricted. a. How many pounds of cheese are consumed in the U.S? b. How many pounds of cheese are produced in the U.S? C. How many pounds of cheese are imported into the U.S? oard If a $3 per pound tariff is imposed, d. How many pounds of cheese are consumed in the U.S? e. How many pounds of cheese are produced in the U.S? f. How many pounds of cheese are imported into the U.S? g. How much will the U.S. government collect in tariff revenue? h. Who benefits from the tariff? Who loses? (4 points) 2. Why is it not efficient to eliminate all pollution? (3 points)

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