What is the cost to consumers for each job protected

Reference no: EM131130015

Import Ban for Kiwi Fruit. Initially, there are no restrictions on importing kiwi fruit. The minimum supply price of domestic producers is $0.26, while the minimum supply price of foreign suppliers is $0.08. Each supply curve is linear, with a slope of $0.01 per million pounds. In the initial equilibrium, the price is $0.18 and the quantity is 10 million

a. Draw a graph showing the initial equilibrium.

b. Suppose imports are banned, raising the price to $0.30. Draw a graph to show the new equilibrium and identify the new equilibrium quantity.

c. Compute the consumer surplus before the import ban and after the ban.

d. Suppose the import ban protects 10 jobs in the kiwi fruit industry. What is the cost to consumers for each job protected?

Reference no: EM131130015

Questions Cloud

What are the major ethical issues in this case : How should the ethics committee render a decision in this case? If there are differences of opinion among committee members, how should the committee deal with the differences?

Draw the edgeworth box diagram : Draw the Edgeworth box diagram that represents the possibilities for exchange in this situation. What is the only exchange ratio that can prevail in any equilibrium

Using both high-low and regression : John Meeks Company is a medium-size manufacturing company with plants in three small mid-Atlantic towns. The company makes plastic parts for automobiles and trucks, primarily door panels, exterior trim, and related items.

Was the internment morally justified : Was the internment morally justified? Was the paying of reparations? Is it an example of cultural relativism during its era? Are there any examples today when the US might be practicing or engaging in cultural relativism to morally justify our beh..

What is the cost to consumers for each job protected : Suppose imports are banned, raising the price to $0.30. Draw a graph to show the new equilibrium and identify the new equilibrium quantity.

Current events issues in historical context project : Current Events/Issues In Historical Context Project:- Topic is "Syria crises", - explore the origins and development of this issue/topic.

Explain why the following operations security practices : Explain why the following operations security practices are important. - Data should be classified and the necessary technical controls should be put into place to protect its integrity, confidentiality and availability. Clipping levels should be imp..

What is the yearly percentage growth rate for the account : Find a formula for the exponential function giving the balance B as a function of timet. What is the yearly percentage growth rate for this account? What is the decade percentage growth rate for this account?

Operations security includes many procedural activities : Operations security includes many procedural activities each day. Provide examples to secure facilities that house systems that process sensitive information.

User Account

All Pages