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Author Question: Import Quotas vs. TariffsThe graph shows the effect of imposing a tariff on the market for oil.If ... (Read 91 times)

trevg

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Question 1

Quotas

The graph shows the effect of imposing a production quota on the market for hops.


If P0=$10, P1=$7, P2=$21, Q0=1564, and Q1=959, how much have prices increased after the quota has been implemented?
◦ $21
◦ $3
◦ $14
◦ $11

Question 2

Import Quotas vs. Tariffs

The graph shows the effect of imposing a tariff on the market for oil.

If P1=$77, Ptariff=$82, Q1=37, Q2=38, Q3=39, and Q4=44, how much is imported from abroad before the tariff is implemented and after the tariff is in place?
◦ 7, 1
◦ 6 , 1
◦ 1, 2
◦ 7, 6


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Marked as best answer by trevg on Nov 23, 2022

gwisel

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trevg

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Reply 2 on: Nov 23, 2022
Excellent


amit

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Reply 3 on: Yesterday
Gracias!

 

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