Blank 1,2, & 3 options: 10,000, 60,000, 50,000? Blank 1 options: Dumping, philan

Question

Blank 1,2, & 3 options: 10,000, 60,000, 50,000?

Blank 1 options: Dumping, philanthropy, & arbitrage

Blank 2 options: rise or fall

to

Blank 3 options: 10,000, 30,000, or 40,000

Blank 1 options: $80,000 per week, $120,000 per week, or $200,000 per week

Blank 2 options: $400,000 per week, $160,000 per week, or $240,000 per week

Blank 3 options: $1,000,000 per week, $400,000 per week, or $600,000 per week

2. The impact of a tariff To see the impact of a tariff, consider a hypothetical example of trade in wire hangers between the United States and China. For simplicity, assume that China is the only source of U.s. wire hanger imports. The following graph shows the U.S. market for wire hangers. Note that in the absence of any trade, the market price for hangers in the United States is $35 per crate, and the equilibrium quantity is 35,000 crates per week. When the United States allows free trade in wire hangers with China, the price of hangers in the U.S. market is $10 per crate. At this price, the quantity of hangers supplied by U.S. producers is_10,000crates per week, the quantity of hangers demanded by U.S. buyers is imported by the United States from China each week is crates per week, and the quantity of hangers crates of hangers. Use the green triangle (triangle symbols) to show U.S. consumer surplus under free trade with China, and use the purple triangle (diamond symbols) to show U.S. producer surplus under free trade with China. PRICE (Dollars per crate) 80 Consumer surplus Domesti Supply 70 Domestic Demand 60 Producer surplus 50 40 30 20 Price with Free Trade 10 0 10 20 30 40 50 60 70 80 Suggestions CRATES OF HANGERS Thousands per week] HelpClear All Ce A CRATES OF HANGERS (Thousands per weekl Session 55

Explanation / Answer

supply=10000,demand= 60000,import= 50000

dumping, falls, 10000

200,000 , 400,000 , 600,000

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