Australia is a producer of beef but represents a small part What area(s) comprise the consumer surplus under autark P Pworld A PAutarky Ос A ☐ D B ☐ E □ F D B E QD Q°

Price per Saddle Domeslic Supply A B. P2 World Price Tariff P1 G Domestic Demand Q1 Q2 Q3 Q4 Quantity of Saddles Before the tariff is implemented, what is the size of consumer surplus? O A OA + B OA+B+ C + D + E + F OG+C

Suppose Canada has a voluntary export restraint for lumber going to the U.S. Who captures the quota rents? O U.S. lumber producers O U.S. consumers O The U.S. government O Canadian lumber producers

You are provided with the following information about the Canadian turkey market:1. The world price of turkey is $5.2. The Canadian turkey market is currently (before the new trade agreement) protected by a tariffrate quota (TRQ) of the following format:a) the in-quota tariff is $1 per unitb) the import quota volume is 100 unitsc) the over-quota tariff is $10 per unit.3. An excess demand (ED) (for imports) function for turkey has been estimated as? = 28 − 0.14?.  Notes: Canada is a small importing country in the world market for turkeys. Answer the question below:  The Canadian government is considering reducing the in-quota tariff to $0.50. Modify the diagram for this market, and solve for the Canadian turkey price and the volume of imports. Label all relevant functions, axes, etc.

Figure 3-15 Price P2 в P1 Q1 Q2 Quantity Refer to Figure 3-15. Which area represents producer surplus when the price is P1? BCE ACF ABED DEF

The figure provided shows the market for calculators. Price of calculators 5454 40 30 20 10 5 world price with tariff 1 50 100 200 300 400 500 600 700 800 900 Quantity of calculators Consumer surplus at the world price, $5, is: $125. $900. $16,000. $4,000. world price D Next