Question: The demand function for a market is given by Q = 2 0 0 - 3 P and the supply function is given by Q
The demand function for a market is given by and the supply function is given by
a The world price is given at $ Is this an importing country or an exporting county? Calculate the amount of import export and show your work and show your answers graphically.
b Calculate the consumer surplus, producer surplus, and the gain from trade if there is any and show your answers graphically.
c If the government imposes tariff for $ Calculate the new importexport the new quantity demanded and quantity supplied. Calculate the consumer surplus, producer surplus, government revenue, and deadweight loss if there are any and show your answers graphically.
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