Question: Please help me solve problems A to J Use the following information on the supply and demand for oil in the hypothetical country Economica to

Please help me solve problems A to J

Please help me solve problems A to J Use the following information

Use the following information on the supply and demand for oil in the hypothetical country Economica to answer the questions below. Assume that the demand and supply curves are linear. Questions 2a is worth 10 points. Each part of every other question is worth 5 points. Domestic Domestic Price {5} Demand Supply 2D 33D ED 4G BED 12D 50 27G 130 8D 24G 24G 100 21G BUG 120 13G 350 1. Assume that the world price of oil is $4 per barrel. a. What is the quantity of oil imports? Now assume that Economica is a small country and that Economica imposes a $20 per barrel tariff on imported oil. Calculate the effect of the tariff on b. The price of oil in Economica c. The change in producer surplus d. The change in consumer surplus e. Government tariff revenue f. Consumption distortion loss g. Production distortion loss h. Total deadweight loss i. Gil imports j. The change in domestic oil production

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