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- 10. Price ($/ton) SUs A 350 300 200 100 10 15 20 Quantity of Sugar (milliontons) A) Using the prior graph if the U.S. did not trade what price would the good cost? If the world price was $200 what quantity would the U.S. produce? What quantity would be imported. What is consumer surplus at the world price? What is producer surplus at the world price? (Using labels do not use math) Who benefits from the free trade and who gets hurt? B) If the U.S. government puts a tariff on the good so now the price is $300 who benefits, who is hurt? What quantity will U.S. producers now produce? What happens to consumer surplus and producer surplus at this new price? What does the government gain from the tariff? C) Who benefits from free trade overall? Who benefits from trade restrictions? Why is a tariff the most used trade restriction? C.i alsoo translated pic attachEXPLAIN THIS AND MAKE IT MORE READABLE PLEASE : how does the importation of live chickens and pork to curb the increasing price of it on local market and how it affects Philippines' economy and the people of the Philippines in general?
- 10. Problems and Applications Q10 Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. Use the following graph to help you answer the questions below. You will not be graded on any changes made to this graph. Price of Steel (Dollars perton) 100 90 2 2 2 2 2 2 - 60 40 30 20 10 Demand 0 100 200 300 400 500 600 700 Quantity of Steel (Tons) Supply 800 900 1000 Triangle PolygonUS bid curve shifts to the rightreferences;- What does the shift of the bid curve to the right meanreferences Describe in detail.-first and last foreign trade volume in the United States and Turkeyhow does it change for? Draw on a single chart.- first and last foreign trade haddi USA and Turkeyhow does it change for? Draw on a single chart.If the United States were to lift existing tariffs on steel imports: Question 32 options: A.the supply of steel shifts to the right and lowers its market price. B.the demand for steel shifts to the right. C.the supply of the imported steel shifts to the left and raises its market price. D.the demand for steel shifts to the left and raises its market price. Please type out the correct step by step answer with proper explanation of the each option given within 40 50 minutes . Will give you thumbs up only for the correct answer. Thank you .
- The tsunamis that hit Japan in 2011 and India and Sri Lanka in 2004 were devastating, and their effects were felt for many years afterward. Natural disasters of this type as well as international events often result in severe disruptions to the supply ofallegations that meat inspectors and politicians had received bribes to overlook improper meat packing practices and allow sales of tainted food. How would the closing of export markets for a country’s beef products together with a fall in domestic sales of beef products and an increase in the domestic equilibrium quantity be reflected in supply-anddemand diagrams of that country’s foreign and domestic markets for beef in the short run?Increased America imports of Japanese goods creates a. an increase in demand for U.S. dollars and a decrease in demand for Japanese yen. b. a decrease in demand for U.S. dollars and an increase in supply for Japanese yen. c. an increase in demand for Japanese yen and a decrease in supply of U.S. dollars. d. an increase in demand for Japanese yen and an increase in supply of U.S. dollars. e. an increase in supply of Japanese yen and an increase in supply of U.S. dollarsAssume that there's an increse in US consumers' preference for Japanese automobile. Which of the following chanfes will most likedly take place in the market for dollars a) It will take more yen to purchase the same amount of dollars b) the demand for dollars will increase c) the supply for dollars will increase d) the supply and demand of dollars will decrease e) there will be no change in the foreign exchange market
- The images are to be referred to for the questions. Thank you. Question: 1. Describe the new price line. 2. Is this change in the international relative price an improvement or deterioration in the terms of trade of the rest of the world? Explain.Both the United States and global economies are booming. Will U.S. imports and/or exports increase?The dollar–yen exchange rate falls from 100 to80 yen per dollar. At the same time, the price levelin the United States rises from 180 to 200, and theprice level in Japan remains the same. As a result,a. American goods have become more expensiverelative to Japanese goods.b. American goods have become less expensiverelative to Japanese goods.c. the relative price of American and Japanesegoods has not changed.d. both American and Japanese goods have becomerelatively less expensive.
