Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask International Economics Expert

problem 1: Assume that the demand and supply curves for coffee in the US are:

Demand: P = 350 - QD Supply: P = 20 + 0.1QS

a) Determine the equilibrium prices and quantities if there is no international trade?

b) Determine the equilibrium quantities (supply and demand) for the US if the nation can trade freely with the rest of the world at a price of 60? In another word, find out the quantity demanded and supplied in the US at this new price?

c) What is the effect of the shift from autarky to free trade on US consumer surplus, on US producer surplus, and on overall US welfare? That is, find out the autarky consumer surplus, producer surplus, and national welfare (CS+PS). Then find out the CS, PS and national welfare with the new price of 60. How have CS, PS, and welfare changed?

problem 2: The equation for the demand and supply curves for writing paper in Belgium is:

Demand: P = 700 - 2QD Supply: P = 40 + 0.2QS

a) Find out the equilibrium price and quantity if there is no international trade?

b) What are the equilibrium quantities for Belgium if the nation can trade freely with the rest of world at a price of 120?

c) What is the effect of shift from autarky to free trade on Belgian consumer surplus?

What is the total national gain or loss for Belgium due to this trade?

International Economics, Economics

  • Category:- International Economics
  • Reference No.:- M94850

Have any Question? 


Related Questions in International Economics

Economics assignmentpart i1 assume the united nations

Economics Assignment PART I 1. Assume the United Nations Educational, Scientific, and Cultural Organization (UNESCO) hired you as an economic development expert. Your mission is to travel to several developing countries ...

Assignmentaccording to theorist karen horney these 10

Assignment According to theorist Karen Horney, these 10 neurotic needs can be classed into three broad categories: Category 1: Moving Towards People (Compliant)-Need for affection and approval-Need for a powerful partner ...

Case study- required casethe brics brazil russia india

Case Study- Required Case The BRICS (Brazil, Russia, India, China, and South Africa) nations are increasingly important in international business. Provide a comprehensive description of the economy of each of these natio ...

Essay should be based on one of the problems mentioned into

Essay should be based on one of the problems mentioned into Haberler (1950) with references to the main assumptions of the general equilibrium analysis

Assignmentanalyze measures of economic growth and

Assignment Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries: o USA o China o Saudi Arabia o Democratic Republic of Congo NEED 300 WORDS APA FO ...

Assignment global economy national economies and

Assignment: Global Economy, National Economies, and Competition In the first part of the twenty-first century a great recession struck most of the countries in the world. The next decade has been severally impacted with ...

Consider a model of two stylized countries called germany

Consider a model of two stylized countries, called Germany and China. Germany is an advanced economy with a long tradition of manufacturing highquality goods. China is less developed, but has become the world's secondlar ...

Economics problem seta suppose the united states can

Economics Problem Set A) Suppose the United States can produce 20 tons of FOOD or 8 TRACTORS, and suppose Japan can produce 10 tons of FOOD or 3 TRACTORS. B) What is the opportunity cost of producing tractors in the Unit ...

Can lesotho afford an independent monetary

Can Lesotho afford an independent monetary policy? Requirement: 2100 words, 1.5. Spacing, No plagiarism, apa style of referencing. Includes abstract page and conclusion page

Research paper for the us and south korea economylester

Research Paper for the US and South Korea Economy Lester Scholl's administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board's re ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro