Grantham ECN201 2022 November Week 8 Assignment Latest
Question # 00835222
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Updated on: 12/05/2022 03:49 AM Due on: 12/05/2022
ECN201 Microeconomics
Week 8 Assignment
Trade Restrictions - Tariffs
Directions: Answer the questions below based on the graph.
1. How many units will the domestic firms produce without trade?
2. How many units will the domestic firms produce without a tariff if the foreign producer can sell the product at a $4 price?
3. How many units will the foreign firms produce / sell if a government tariff of $2.00 is imposed on foreign goods?
4. What will be the total government revenues if a tariff of $2.00 is imposed on foreign goods?
5. What will be the total deadweight losses if a tariff of $2.00 is imposed on foreign goods?
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Solution: Grantham ECN201 2022 November Week 8 Assignment Latest