Question competitive firms located in lesotho africa sell, Ask an Expert

Economics

Question: Competitive firms located in Lesotho (Africa) sell their tube socks only in Europe and theUnited States (which do not produce the good themselves). The industry's supply curve isupward sloping.

a. Show the initial U.S., European, and total equilibrium quantities and price(s). (Hint: Use amultimarket equilibrium analysis.)

b. Now Europe puts a tariff of t per unit on the good but the United States does not. What is the effect of the tariff on the U.S., European, and total quantities and price(s)?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92598621

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question -1 how does the fda face the problem of scarcity2

Question - 1. How does the FDA face the problem of scarcity? 2. Do you think that the FDA is making good choices in the face of scarcity? 3. Explain the trade-off that the FDA faces.

Question consider the industry in which you work or one

Question: Consider the industry in which you work, or one about which you have some knowledge. What are the costs and benefits associated with attempting to bar entry of other firms into this industry? How would a firm e ...

Question - after reading business cycles by christina d

Question - After reading Business Cycles By Christina D. Romer, answer this: What were the causes of business cycles before 1914? What happened to Business Cycles between 1929 and 1948? What was the history of Business C ...

Question consider the aggregate demand - aggregate supply

Question: Consider the Aggregate demand - Aggregate Supply model, suppose the economy begins in a short run equilibrium with output equal to potential output. - Assume that prior to the exogenous tax cut, the government ...

Question in 2009 us households were not even buying a

Question: In 2009 U.S. households were not even buying a toaster when it wore out. Which economies that are major trading partners of the United States are presently in slowdowns? How long do you think that situation wil ...

Question please write a 5 paragraph essay about thisfixed

Question: Please write a 5 paragraph essay about this! Fixed cost versus variable cost use a key study that illustrate your understanding of the concepts. Most importantly what happens to fixed cost as output increases? ...

Question in country b the population is 900 million and 100

Question: In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate? The response must be typed, single spaced, must be in times new roman font (size 1 ...

Question what is the time value of money and how can

Question: What is the time value of money and how can compound interest be used to calculate the present value of any future amount of money? How is the word "risk" used in financial economics and what is the difference ...

Question suppose you want to hasten the transition from a

Question: Suppose you want to hasten the transition from a depletable fossil fuel to solar energy. Using graphs in your explanation, compare the effects of a per unit tax on the depletable resource to an equivalent per u ...

Question pop-o popcorn inc sells bags of flavored gourmet

Question: Pop-O Popcorn, Inc. sells bags of flavored gourmet popcorn in a popular mall. As shop owner and operator, Cara estimates the demand for flavored popcorn to be: Q 1,500- 50P +4A, where A denotes advertising week ...

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

Recent Questions

Ask Microeconomics Expert