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Author Question: The following diagram shows a country's domestic demand and supply curves (Ddom and Sdom) for a ... (Read 229 times)

robinn137

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on: May 25, 2020

Question 1

A tariff imposed on imported shoes will cause the domestic price of shoes to ________ and the domestic production of shoes to ________.
◦ decrease, increase
◦ increase, increase
◦ decrease, decrease
◦ increase, decrease

Question 2

The following diagram shows a country's domestic demand and supply curves (Ddom and Sdom) for a product. Assume that the country is a price taker, facing a given world price of PW. Part of demand is satisfied by imports. The world supply curve to the country is given by SW (remember, the country is a price taker). A tariff is then imposed on the product whose amount is shown by the vertical difference between SW and SW+t.



As a result of the tariff, imports will
◦ Decrease from Q4 — Q1 to Q3 — Q2.
◦ Decrease from Q4 to Q5.
◦ Increase from Q1 to Q2.
◦ Increase from Q3 — Q2 to Q4 — Q1.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by robinn137 on May 25, 2020

dlook33

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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robinn137

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

LegendaryAnswers

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Reply 3 on: Yesterday
Excellent

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