part 9 10 11 a. i. What is the equilibrium price of protective masks before trade? ii. What is the equilibrium quantity of protective masks before trade? iii. What is the price of protective masks after trade is allowed? iv. What is the quantity of protective masks imported? v. What is the amount of consumer surplus before trade? vi. What is the amount of consumer surplus after trade? vii. What is the amount of producer surplus before trade? viii. What is the amount of producer surplus after trade? ix. What is the amount of total surplus before trade? x. What is the amount of total surplus after trade? xi. What is the change in total surplus because of trade? b. In general, how is an import quota similar to, and different than, an equivalent tariff?
part 9 10 11
a.
i. What is the
ii. What is the
iii. What is the price of protective masks after trade is allowed?
iv. What is the quantity of protective masks imported?
v. What is the amount of
vi. What is the amount of consumer surplus after trade?
vii. What is the amount of
viii. What is the amount of producer surplus after trade?
ix. What is the amount of total surplus before trade?
x. What is the amount of total surplus after trade?
xi. What is the change in total surplus because of trade?
b. In general, how is an import quota similar to, and different than, an equivalent tariff?
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