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the nation of Enuiya is "small", unable to affect world prices

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the nation of Enuiya is "small", unable to affect world prices. Its imports peanuts at the price of $10 per bag. The demand curve is: D = 800 -20P;The supply curve is: S = 100 + 10P;Determine the free trade equilibrium. Then calculate and graph the following effects of an import quota that limits imports to 100 bags.;a. the increase in domestic price;b. The quota rents;c. The consumption distortion loss;d. The production loss

 

Paper#22518 | Written in 18-Jul-2015

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