Refer to the figure at right showing the market for cheese. The increase in domestic producer surplus associated with the tariff shown will be S (Round your response to the nearest dollar.) Price of Cheese ($) Pw+t Pw Market for Cheese 26 20 D B 8 14 22 30 Quantity of Cheese (thousand units) SOU
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- The demand for and the supply of Dengue vaccine in a small village in South India is given by the following equations: Qa = 1525 + 2,6Y Qs = 2200 + 1.4Y In those equations, Qa and Q, are the quantity demanded and quantity supplied for the Dengue vaccine respectively and Y is the income of the consumers in USD. Calculate the equilibrium quantity and income.Egypt exports of soaps, lubricants, and waxes, to Kenya was US$22.63 Million during 2019,according to the United Nations COMTRADE database on international trade. Egypt exportsof soaps witnessed a steady decline since 2017, and there is lots of potential demand in manyother african nations for Egyptians soap.Last March 2020 the Ministry of Industry and Trade decided to exclude soap bars, shampoo,and tissue paper in the form of jumbo rolls "production requirements" from Resolution 187 of2020 to stop the export of masks and protective supplies.Minister of Trade and Industry Nevein Gamea issued two decisions to stop exporting all of thesurgical masks ("face masks") and the requirements to prevent infection and alcohol of all kindsand derivatives, for a period of 3 months starting from the date of publishing the decisions inthe Egyptian Gazette.H.E. Mrs. Gamea said that these two decisions aim to provide the needs of the Egyptian citizenwith these products, especially in light of the…Total economic surplus is represented by?
- Suppose that the government has a goal to reduce the demand for cigarettes in support of a health program. Given this, the government decided to impose a per-unit tax of 40 centavos per pack that is levied on the sellers or placed on the sale of cigarettes by the government. This causes a shift of the market supply of cigarettes from S to S' as shown. Price ($ per pack) S 1.50 1.40 1.30 1.15 D₂ Quantity (Millions of pack) 3 4 5 Answer the following questions regarding this case. 1. Determine the deadweight loss to society caused by the imposition of the tax. (3 points) Interpret the result. (3 points) 1 2. What tax revenue is expected to be collected by the government? (4 points) 1.25 + 1 1 D₁Canned ssalmon is less desireable than other fish as incomes goes up what haapens to the supply demand curve?The demand for Australian-made motorcycles in Japan is given by: Japanese demand = 10000 –0.001(price of Australian motorcycles in yen). Similarly, the demand for Japanese-made motorcycles in Australia is: Australian demand = 30 000 –0.2(price of Japanese motorcycles in dollars). The domestic price of an Australian-made motorcycle is $20 000, and the domestic price of a Japanese-made motorcycle is ¥2 500 000. From the perspective of Australia, find the real exchange rate in terms of motorcycles and net exports of motorcycles to Japan, if: a) the nominal exchange rate is 100 yen per dollar b) the nominal exchange rate is 125 yen per dollar. c) How does an appreciation of the dollar affect Australian net exports of motorcycles (considering only the Japanese market)?
- When the price of beef is $ 4 per kg, quantity demanded is 500 grams. but when the price changes to $3.92 then quantity demanded is 530 grams. calculate the price elassticity demand?Qd Qs 4.75 Price of Coffee ($ per 4.5 cup) 4.25 4 3.75 3.5 3.25 2.75 2.5 2.25 2 1.75 1.5 1.25 1 0.75 0.5 0.25 2. 25 1. 3. 4. 6. 00 Quantity of coffee, thousands of cups 1.5 4.5 6.5 9.5MI22 APF X Recordings - OneD x Calendar - Armstro X Mail - Armstrong, x Topic: Economic E X Recordings - Onel X Price Elasticity of D x + om/courses/967/assignments/14531 3.3 Suppose that the minimum wage rate increases. Due to the increase in the minimum wage rate, the cost of the production factor labour increase. 3.3.1 Illustrate and explain how the increased wage rate will affect the equilibrium price and quantity in the market for milk. (6) SECTION C Question 4: [10] Read the following scenario and answer the succeeding questions. Scenario 3: Consider the following business entity named Beta-Blockers in answering the succeeding questions. Beta-Blockers is the primary seller of high blood pressure medication, and consumers are not sensitive to price changes due to the chronic medication the entity sells. Suppose that the price of the medicine increases from R100 to R150 per packet, and as a result, the quantity demanded decreases from 1100 packets to 800 packets. For scenario 3,…
- Per the graph below, what is the equilibrium price and quantity? Use only the numbers written on the graph as your answer. Market for Cucumbers S 2.00 1.50 1.00 1200 1600 2000 Quantity (pounds) Provide your answer below: q = p= $ Price per Pound (in USD)Assume that Grainland currently produces wheat and does not trade wheat in international markets. (a) Draw a correctly labeled demand and supply graph for the domestic wheat market in Grainland. Label the equilibrium price, PePe, and the equilibrium quantity, QeQe. (b) Suppose the price of wheat in the world market is lower than the domestic price of wheat in Grainland. Assume now Grainland wants to trade wheat in the world market. (i) On your graph from part (a), label the world market price of wheat as PWPW, and identify the domestic quantity demanded of wheat at PWPW, as Q3Q3, and the domestic quantity supplied of wheat labeled as Q1Q1. (ii) Will Grainland export or import wheat? Explain. (c) With international trade in wheat, who will benefit in Grainland: domestic producers, domestic consumers, neither or both? Explain. (d) Suppose that the government of Grainland decides to provide a subsidy for wheat farmers to make the country more competitive and sell wheat at the world market…The following graph shows the demand curve for uff, a useful commodity produced on the planet Hermes. The Hermetian currency is the yen. The graph input tool also shows how demand for uff is affected by changes in the average income of Hermetians, as well as the prices of tulg and snick, two other related goods available on the planet. Suppose that the price of a gram of uff decreased from 50 yen to 45 yen. This would cause a _______ (options: movement along, shift of) the demand curve and therefore an increase in _________ (options: the demand for uff, the quantity of uff demanded). Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward _________ (options: movement along, shift of) the demand curve.