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Assume that the EU subsidizes the exports of tomatoes to support employment in agriculture. Supply and demand of European producers and consumers are equal to p=200+5qs and p=500-qd respectively (where prices are in € and quantities in tons). Under free trade, the EU is a net exporter of tomatoes and exports 30 tons every day at €475 per ton. Assume that under free trade, the global price is €475 per ton. Now, to support employment in agriculture, the EU starts subsidizing every ton of exports by about 4.2% such that the price European producers get, after the subsidy, rises from €475/ton to €495/ton. Assume the EU is a price taker and cannot affect the world price.
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