Question: step by step explanations please. for each options Illustrate each of the following scenarios using supply and demand diagrams, labelling and commenting upon the diagrams

step by step explanations please. for each options

step by step explanations please. for each options Illustrate each of the

Illustrate each of the following scenarios using supply and demand diagrams, labelling and commenting upon the diagrams as appropriate. al b) 0|) Between 1971 and 2006, the United States from time to time imposed quotas or other restrictions on importing steel. A quota says that no more than 5 > 0 units of steel can be imported into the country. Suppose both the domestic supply curve of steel and the foreign supply curve of steel for sale in the United States are upward-sloping straight lines. How did a quota set by the United States on foreign steel imports affect the total American supply curve for steel (domestic and foreign supply combined)? Imagine that silver is unevenly distributed around the world. Some amount of it isjust lying around on the ground, some isjust below the surface, some is deep underground, etc. What would the supply curve for gold look like? Based on the description above, can we say anything about the convexity or concavity of the supply curve for silver? Imagine that there are strong economies of scale in building cars, so that a factory which is designed to build 10,000 cars a year has a higher average cost than a factory designed for 30,000 cars, and the average cost goes down again for factories designed for 100,000. What would the supply curve for cars look like? Why? Imagine that that there is a tiny village that has no plumbing which is one mile from a large, clean river. The only way the villagers can bring water to the village is by carrying it in buckets. Some villagers pay other villagers to bring water for them. What will the supply curve for water look like

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