(Figure: The Markets for Pineapples in Brazil II) Use Figure: The Market for Pineapples in Brazil II. Suppose producers lobby effectively for the imposition of a tariff that raises the world price of pineapples from $10 to $15. Tariff revenue to the government will equal: Price per pineapple 40 40 S $5. 30 20 15 10 $150. $200. $75. D 0 10 15 20 30 40 50 Quantity of pineapples
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- 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Zambia. The world price (Pw) of soybeans is $530 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 980 Domestic Demand Domestic Supply 930 880 830 780 730 680 630 580 P. 530 480 50 100 150 200 250 300 350 400 450 500 QUANTITY (Tons of soybeans) PRICE (Dollars per ton)4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Zambia. The world price (Pw) of soybeans is $520 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 920 Domestic Demand Domestic Supply 870 820 770 720 670 620 570 520 470 420 80 100 120 140 QUANTITY (Tons of soybeans) 20 40 60 160 180 200 If Zambia is open to international trade in soybeans without any restrictions, it will import tons of soybeans. Suppose the Zambian government wants to reduce imports to exactly 40 tons of soybeans to help domestic producers. A tariff of S per ton will achieve this. A…22. < Previou Suppose there are three countries in the world: Volcania, Portlandia, and Minitown. These three countries produce a total of 3 different kinds of goods: Raspberries, Pomegranates, and Guavas. If Volcania imposes a tariff on Raspberries from Portlandia, and Minitown. OThe price of Raspberries in Volcania will increase for everyone OThe Raspberries industry in Minitown will benefit OThe Raspberries in Portlandia will be the only one to see higher prices for this product
- 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Venezuela. The world price (Pw) of soybeans is $520 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisty domestic demand as much as possible before any exporting or importing takes place. Domestic Supply 700 Domestic Demand 730 640 10 3D 400 100 IND 200 250 300 300 400 450 s00 QUANTITY (Tons of soybeans) PRICE (Dotars per ton)4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Colombia. The world price (Pw) of soybeans is $550 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. PRICE (Dollars per ton) 830 Domestic Demand 795 760 725 690 585 550 PW 515 Z K 0 30 60 90 120 150 180 210 240 270 300 QUANTITY (Tons of soybeans) 480 Domestic Supply If Colombia is open to international trade in soybeans without any restrictions, it will import A tariff set at this level would raise $ Suppose the Colombian government wants to reduce imports to exactly 120 tons of soybeans to help domestic…2 Using the graph, assume that the government imposes a $1 tariff on solar panels. Answer the following questions given this information. Price $13 65 8 Domestic Supply $1.00 Tariff World Price Domestic Demand о 30 40 60 84 96 Quantity a. What is the domestic price and quantity demanded of solar panels after the tariff is imposed? b. What is the quantity of solar panels imported before the tariff? c. What is the quantity of solar panels imported after the tariff? d. What would be the amount of consumer surplus before the tariff? e. What would be the amount of consumer surplus after the tariff? f. What would be the amount of producer surplus before the tariff? g. What would be the amount of producer surplus after the tariff? h. What would be the amount of government revenue because of the tariff? i. What would be the total amount of deadweight loss due to the tariff?
- 2. Recently, China placed tariffs on the importation of US soybeans. Assume that the domestic market for soybeans in China is described by the following equations: Demand: P = 115 – 1/15Q Supply: P = 55 + 1/15Q Where P is Yuan per bushel of soybeans and Q is 10 million bushels per year. The world price for soybeans is ¥65/bushel. Graph the soybean market in China showing equilibrium both with no barriers to trade and with a ¥15/bushel tariff. Be sure to fully and clearly label the graph including the Domestic Demand curve, Domestic Supply curve, the World Price, and the Price with tariffs.4. Under what conditions could an import quota and a tariff have exactly the same effect on price and bring the same gains and losses (given a tariff level that restricts imports just as much as the quota would)?3 Price($) 25 15 9 5 1 R A CS B 15 % G DD 0 200 300 600 700 Quantity of Wheat (thousands of bushels) Refer to Exhibit 19.4, which shows the market for wheat in the country of Palatino. SD is the domestic supply of wheat, and DD is the domestic demand for wheat. Suppose the world price of wheat is $9 per bushel and a specific tariff of $6 is imposed on each bushel of wheat imported. The net welfare loss from the tariff is represented by area(s). Oa. I and H. Ob. E. c. F. Od. B and D. Oe. A and C. A bike 2 A bike jpg.jpg A bike 2.jpg Show AO ENG 6:52 D 6/12/2 fa prt H 5 C E SD T f7 Y H 4- & 7 + U * 8 fo f10 ► 11 K|| fyl 112
- 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for wheat in Kenya. The world price ( Pw) of wheat is $250 per bushel and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of wheat and that there are no transportation or transaction costs associated with international trade in wheat. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. PRICE (Dollars per bushel) 475 450 425 400 375 350 325 300 275 250 225 0 Domestic Demand i Domestic Supply 10 20 30 40 50 60 70 QUANTITY (Bushels of wheat) 80 2 ■ A tariff set at this level would raise $ 90 P. PW 100 (?) If Kenya is open to international trade in wheat without any restrictions, it will import bushels of wheat. Suppose the Kenyan government wants to reduce imports to exactly 20 bushels of wheat to help…4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for wheat in Kenya. The world price (Pw) of wheat is $250 per bushel and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of wheat and that there are no transportation or transaction costs associated with international trade in wheat. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. PRICE (Dollars per bushel) 520 490 460 430 400 370 340 310 280 250 220 Domestic Demand + 0 40 80 Domestic Supply + PW 120 160 200 240 280 320 360 400 QUANTITY (Bushels of wheat) (?)10 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that the world price of baseball caps is €1 and there are no import restrictions on this product. Assume that Spanish consumers are indifferent between domestic and imported baseball caps. Instructions: Enter your answers as whole numbers. a. What quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand b. What quantity of baseball caps will be imported? thousand Now suppose a tariff of €1 is levied against each imported baseball cap. C. After the tariff is implemented, what quantity of baseball caps will domestic suppliers supply to domestic consumers? thousand d. After the tariff is implemented, what quantity of baseball caps will be imported? thousand Price (€ per cap)
