User Account

All Pages

Effect of replacing the import tariff with an import quota

Assignment Help Business Management
Reference no: EM131348438

Question

Assume Canada is a small open economy that imports some of the grapes it consumes.

a) Draw a diagram showing the equilibrium under free trade in grapes

b) Show the effects of a $1 per kg tariff on imported grapes. Show the effect on : imports, Canadian production, consumption, the government's revenue, the change in (Canadian) producer surplus, consumer surplus, and total surplus.

c) What would be the effect of replacing the import tariff with an import quota? Which would be better? Explain.

Reference no: EM131348438

Questions Cloud

Peasants in central and south america : What efforts have been made and by whom to promote alternative crops to peasants in Central and South America?
Indicate direction of field pattern of the magnetic poles : If this arrangement was to be used as a motor, with the direction of rotation as shown, indicate the direction of current flow required through the coil.
Evaluate industrial performance from perspective : Outline and briefly explain the major elements of the standard used to evaluate industrial performance from the perspective of societal welfare. Based on this standard, rank order the following industries from best to worst.
Determine the deflecting torque when the coil current is 50 : The coil of a moving coil meter is wound with 75 turns, on a former of effective length 2.5 cm, and diameter 2 cm. The former rotates at right angles to the field, which has a flux density of 0.5 T.
Effect of replacing the import tariff with an import quota : Show the effects of a $1 per kg tariff on imported grapes. Show the effect on : imports, Canadian production, consumption, the government's revenue, the change in (Canadian) producer surplus, consumer surplus, and total surplus. What would be the ..
Used as the initial cash flow for this building project : Marshall's & Co. purchased a corner lot in Eglon City five years ago at a cost of $560,000. The lot was recently appraised at $582,000. The company now wants to build a new retail store on the site. The building cost is estimated at $1,190,000. What ..
Calculate the effective length of the conductor : A conductor, 0.4 m long, lies between two pole pieces, with its length parallel to the pole faces. Determine the force exerted on the conductor, if it carries a current of 30 A, and the flux density is 0.25 T.
Marketing manager of jewelry cleaning product : You are the new marketing manager of a jewelry cleaning product specially formulated for cleaning precious stones, jewelry, and watches. The product is sold through two large department store chains, which receive a 50% retailer margin. The product’s..
Calculate the level of price : Calculate the level of price, output and the amount supplied by each firm that arise inthe equilibrium. Provide a labeled diagram.

Reviews

Write a Review

Business Management Questions & Answers

  How will you select the sample of research participants

How many groups, interviews or case studies would you recommend? How will you select the sample of research participants? Location - i.e. where should the interviews /groups be conducted?

  Distribution method of performance evaluation

Organizations using a forced distribution method of performance evaluation place predetermined percentages of employees into particular performance categories.

  Information about marketing communication plan

You need to compile and justify the following information about your marketing communication plan. This is an academic report and you need to support your ideas with relevant theory from the textbook and academic sources

  What kind of decision making style is recommended for masayo

Since 2013 there has been on and off talk of Sprint purchasing T-Mobile. This move is led by Masayoshi Son, the chair of Japanese conglomerate SoftBank, which owns Sprint. Mr. Son is a bold entrepreneur who is known for his penchant for risk taking a..

  Hospitality management skills and competencies

Prepare a career path for a events manager position in the hospitality industry - Hospitality Management Skills and Competencies

  Types of performance appraisal systems

What types of performance appraisal systems are used in companies around the world (ie outside of the USA)? Looking for global perspectives for any specific companies

  Self-managing teamstodays organizational cultures require

self-managing teamstodays organizational cultures require highly functioning self-managed teams. in todays

  Government subsidies to encourage farmers

In at least 100 words explain why you would support or oppose (a) raising the price of water while providing low rates for minimal use to help poorer families and individuals, and (b) providing government subsidies to encourage farmers, households,..

  Company manufacture a quality line of home kitchen appliance

You've just learned that your primary competitor has just cut their prices to the consumer by 7%. Illustrate what might be some reasons that would support their decision to make a price reduction? Illustrate what should be your thoughtful reaction..

  Write a business plan for a car rental office in dubai

Write a Business Plan for a Car rental Office in dubai. Car Rental Business Plan - Publicity and Advertising Strategy. Car Rental Business Plan - Sustainability and Expansion Strategy.

  How do the principles of organizational fit

How is organizational fit relevant to a candidate's potential success with an organization? How do the principles of organizational fit relate to inclusion and diversity?

  Why doll inadvertently sold the violin to samson

Doll inadvertently sold the violin to Samson, who bought the violin in good faith for $500. When Jenny discovered her loss, she sued Samson for the return of the violin. May she recover her violin? Explain why or explain why not?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd