Suppose you have the following for white t-shirts market: Market demand is P=125-(3/8)Q Market supply is P=5+(1/8)Q. Suppose it is now possible to obtain white t-shirts from the rest of the world at $15 per item at any given quantity. In other words, there is now a global supply that is horizontal at $15. a. Obviously the world price and domestic price will now be $15. Calculate the quantity produced and demanded domestically. Calculate the difference as imports from the rest of the world. b. Calculate the CS (Consumer Surplus) and PS (Producer Surplus) under free trade. Who gains with free trade? Who loses? Hint: Use graphs first.

Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table below (quantities in thousands). Quantity Supplied (before tariff) Quantity supplied (after tariff) Price ($) 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 Quantity Demanded 170 150 130 110 90 70 50 30 50 70 90 110 130 150 170 190 a) The present equilibrium price is $ and quantity is b) Suppose that the Canadian government imposes a $2,000 per car tariff on imported Japanese cars. Show the new supply in the last column above. thousand. thousand. c) The new equilibrium price is $ and quantity is d) The total revenue received by the government will be $ e) Assume, instead, that the government imposes an import quota of 90,000 cars. The new equilibrium price is $ quantity is thousand. f) Does the government now receive any revenue? No million. and

The domestic demand and supply for sugar are, respectively, Qd = 60,000 − 400P and QSD = 5,000 + 200P. The foreign supply is QSF = 40,000 + 200P. What is the total supply of sugar in the domestic market? Q = 45,000 + 400P. Q = 5,000 + 200P. Q = 35,000 + 200P. Q = 55,000 + 400P.

Please help me answer each part of the questions in detail. Thank you

The market for pencils has a domestic demand equation P=20−0.5Q�=20−0.5�, and a domestic supply equation  P=5+Q�=5+�, where quantity is measured in thousands. The world supply equation for pencils is PW=10��=10.  The domestic government decides to implement a tariff of $10 per thousand pencils. As a result of the tariff, the new domestic price of pencils is

Euros per U.S. dollar X2 Supply of U.S. dollars E2 X₁ E₁ D₁ D2 Quantity of U.S. dollars Explain the shift from D1 to D2. 0 What might have caused the shift from D1 to D2? I

Any help with past paper is much appreciated

Brazil is an importer of computer chips. When the Brazilian government imposes an import quota on computer chips, consumer surplus decreases, total surplus increases in the Brazilian computer chip market. consumer surplus increases, total surplus decreases in the Brazilian computer chip market. consumer surplus decreases, total surplus decreases in the Brazilian computer chip market. consumer surplus increases, total surplus increases in the Brazilian computer chip market. O O O

Price 22 20 12 10 P = $0.8 Compute the price of suppliers that they are willing to receive for the quantity demanded at the new post- policy price of $20 per bushel (hint: plug the quantity demanded at the new post-policy price of $20 per bushel you found in previous question into the supply function for Qs and figure out the price). P = $11.0 P= $10.4 So P = $12.4 Do 8.8 Quantity

Consider a large country with a domestic demand characterized by the inverse demand function P=1000-Q. Domestic supply is represented by the equation P=400+Q. Finally, the world price of the good is 900. You know that an export tariff pass-through is 10%, meaning that foreign price decreases by 10% value of an export tariff t; more generally, 10% of any change in the domestic price is absorbed by the world market. a) Draw a diagram of a free trade case, label imports, consumer and producer surplus. b) Now you want to introduce export quota restrictions g. Calculate the value of the optimal export quota q, which maximizes domestic welfare. Illustrate CS, PS, QR, and DWL on your graph. Calculate their numerical values.