The hypothetical country of Crabby Island has imposed a production quota of 4,000 crabs per month. Use the line segment in the graph below to show this production quota then answer the following question. Price ($) 10 9 8 7 (O 5 4 3 2 1 2000 Production quota 4000 6000 Quantity (crabs per month) Supply Demand 8000 10000 1. Use the line segment to show a production quota of 4,000 crabs per month. 2. What is the price of crab after the introduction of the quota? GA Number
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- Suppose that the quantity demanded and quantity supplied in the market for milk is as follows: Price per Gallon Quantity Demanded Quantity Supplied $5 1000 5000 $4 2000 4500 $3 3500 3500 $2 59 4100 2000 $1 6000 1000 What is the equilibrium price and quantity of milk? price: $4; quantity: 4500 O price: $3; quantity: 3500 .price: $2, quantity: 2000Tornado Bulbul hits Bangladesh and affects the crops and fish hatcheries in the coastal areas.What will happen to shrimp production if the hatcheries were affected due to the tornado? Howwill it affect the equilibrium price and quantity of the local shrimp market? On the other hand, if aneighboring country, who exports crops and fishes to Bangladesh, experiences a bumper harvestand export their surplus products to us, say shrimp, what will happen to the equilibrium price andquantity of local shrimp market again in Bangladesh? Draw a diagram and explain your answer.Price ($) The hypothetical country of Crabby Island has imposed a production quota of 4,000 crabs per month. Use the line segment in the graph to show this production quota, then answer the question. Use the line segment to show a production quota of 4,000 crabs per month. Production quota What is the price of crab after the introduction of 10 the quota? 9. Supply price: $
- 16. What is the difference between an agricultural export subsidy and an agricultural production subsidy?ⒸMacmillan Learning (Figure: Market for Sustainable Furniture) Consider the market for furniture made from sustainable, man-made forests that is shown in the figure. The government wants to encourage buyers to buy such furniture and places a price ceiling of $250 thousand pieces of on the market. The market quantity actually sold after implementation of the price ceiling is furniture.T Price ($ per piece of fumiture) $350 $250 $100 Ⓒ700 300 O 500 350 300 500 Supply Demand 700 Quantity of fumiture pieces (thousands)mwy w grupi i ving withopoinviny universo in un grup nove mi viviys wwww.vg. Graph Input Tool ? Market for Goods 25 Quantity Demanded (Units) Demand Price (Dollars per unit) 25.00 Demand + 0 15 5 45 20 50 QUANTITY (Units) On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 630 567 A 504 Total Revenue 441 378 315 252 189 126 63 PRICE (Dollars per unit) TOTAL REVENUE (Dollars) 50 45 40 35 30 25 20 15 10 5 0 10 25 30 35 40 0 + 0 5 10 45 50 15 20 25 30 35 QUANTITY (Number of units) Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is $ Calculate the total revenue if the firm…
- The Ministry of Misallocation has decreed that the production of widgets must be 2000 each month and the production of gizmos must be 14000 each month Calculate the deadweight loss in each market caused by these restrictions. Please note the scale of the quantity axis is in thousands. Price of widgets $10 9 8 7 6 5 4 3 2 1 Supply 0 Demand 1 2 3 4 5 6 7 8 9 10 Quantity of widgets (in thousands) A4.000 in widgets and 180,000 in gizmos OB. 8,000 in widgets and 160.000 in gizmos OC 16,000 in widgets and 300,000 in gizmos OD. 16,000 in widgets and 320.000 in gizmos OE4,000 in widgets and 360,000 in gizmos Price of gizmos $100 90 80 70 60 50 40 30 20 10 0 Supply Demand 2 4 6 8 10 12 14 16 18 20 Quantity of gizmos (in thousands).Price 14 9 8 6 4 Price 6 2 (a) Home Market 456 8 Quantity (b) Import Market 6 Show Transcribed Text Import Refer to the graphs. Suppose that instead of a tariff, Home applies an import quota limiting the amount Foreign can sell to 2 units. a. Determine the net effect of the import quota on the Home economy if the quota licenses are allocated to local producers. b.Calculate the net effect of the import quota on Home welfare if the quota rents are earned by Foreign exporters.The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): 13 12 11. 10 A 9 83 7 2 1 0 -1 10 1 -11 CHG. O GHOI. O HLP. US Market for Yoplait (Y) Supply of Yoplait O GHPK. 8 Demand for Yoplait 9 10 11 12 13 Yoplak 15 12 Price 11 10 A 0 1 2 US Market for Dannon (D) Refer to the above graph. At the price of $6 for Y, and relative to an autarkic situation, intra- industry trade leads to a loss for producers of: Supply of Dannon Demand for Dannon Dannon 10 11 12 13
- (Figure: Market for Logs) A quota of 10,000 logs forest wood per month is placed in the market that is shown in the figure. The quota the quantity that is sold in the market by logs. Price $25,000 $22,000 $21,000 $20,000 $19,000 $17,000 $15,000 $13,000 $7,000 lowers; 10,000 raises; 4,000 lowers; 2,000 raises; 10,000 B 10 12 Supply Demand Quantity (thousands per month)What Type of attraction are in Uk? and which are the main Characteristcs of supply? (what make different from the rest of the world)The following graph shows intra-industry trade in the United States for two types of yogurts: Yoplait (a famous French brand) and Dannon (a famoud American brand): -1 13 12 11 10 A 9 8G 7 2 Price 1. 0 0 2 US Market for Yoplait (Y) Supply of Yoplait 5 6 7 Loss of LQM. Gain of LQM. Loss of KLMR. Demand for Yoplait Gain of KLMR. Yoplak 9 10 11 12 13 14 12 Price 11 10 A US Market for Dannon (D) 2 3 4 5 7 Supply of Dannon Refer to the above graph. At the price of $6 for D, intra-industry trade leads to which of the following for the United States: 8 Demand for Dannon Dannon 9 10 11 12 13