A method quantities called of trade to use fixed of goods for import is

Q: Suppose the marginal utiliy of a Coke is 15 utils and the price is $1. The marginal utility of a…

A: Utility means satisfaction.  Marginal utility is the utility derived from the consumption of an…

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A: The vicious cycle of poverty refers to a self-perpetuating cycle of poverty that is difficult to…

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A: Gross Domestic Product, or GDP, is a measurement of a nation's economic output.It is described as…

Q: Daniel Kahneman and the late Amos Tversky are considered to be the founders of modern behavioural…

A: Economic agents are individuals, organizations, or institutions that participate in economic…

Q: Q1. Why do countries impose trade restrictions?

A: Since you have asked multiple question, we will answer first question for you. If you want any…

Q: The price index was 120 in Year 1 and 126 in Year 2. What was the inflation rate?

A: Price index shows the price level at the given year.  Inflation rate is the rate at which the price…

Q: Given extremely high rates of obesity, diabetes and cancer, should the U.S. Government implement or…

A: Introduction  Externality occur is an economy when the production or consumption of a specific good…

Q: A typical firm in long-run equilibrium in an industry with identical firms has a cost function given…

A: A perfectly competitive market has a large number of identical firms. In long run, each perfectly…

Q: The following graph plots the demand curve (blue line) for several consumers in the market for…

A: Consumer surplus is the difference between maximum price consumer is willing to pay and market price…

Q: New Zealand in one year can raise 75 tons of beef or produce 750 boxes of tulips. In the same…

A: In economics, trade refers to the exchange of goods or services between two or more parties. It…

Q: A municipality is considering an investment in a small renewable energy power plant with the…

A: Net Present value is the tool by which we calculate the current value of future cash flow from a…

Q: Suppose Hondamaha, a motorcycle manufacturing firm headquartered in Japan, builds a production plant…

A: In economics, an investment refers to the purchase of goods that are not consumed today but are used…

Q: Each of the following examples reflect some labour cost faced by an employer. Select all of those…

A: The cost incurred by the firm for the production of final goods and services is known as the total…

Q: The demand curve faced by a monopolist is: P = 120 - 3Q. The marginal cost curves in factory 1 and…

A: P=120−3Q MC1=10+20Q1 MC2=60+5Q2

Q: In medieval times, many goldsmiths would offer to store gold in return for a fee. They provided…

A: The bank's main job is to accept deposits from customers and disburse loans to those consumers.…

Q: The top graph below shows the marginal cost (mc), average variable cost (avc) and average total cost…

A: In the long run, firms keep on entering exiting the market until the profits gets normalized. This…

Q: Calculate the effective annual interest rate for 15% corresponding to each of the following: (d)…

A: Compounding is the act of accruing interest on both the initial principal and interest accumulated…

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A: Elasticity measures the percentage change in quantity due to percentage change in price.  The demand…

Q: Draw a standard long-run average cost curve. Identify on the graph and define economies of scale (or…

A: The long-run average cost (LRAC) curve is a graphical representation of the average cost per unit of…

Q: Assume that Belgium and Oman are trading partners. Belgium's economy is currently in a recession. A.…

A: Understanding how an economic system works requires macroeconomic analysis. Because it is impossible…

Q: 1. Consider a perfectly competitive market with a price of $21, where each firm has a cost function…

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Q: • Key fiscal policies used within 6-12 months before COVID-19 (up to March 2020) and after COVID-19…

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Q: What is the effect of religion in globalization?

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Q: 8 Recall the formula used to calculate the real value of an interest rate. If the nominal interest…

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Q: Suppose the demand for a product is given by Q=51-7P, supply is given by Q=31+4P. Calculate the…

A: As given Demand: Q = 51 -7P and Supply: Q = 31 +4P

Q: 1. (Figure: Demand Curve for Pears) Use Figure: Demand Curve for Pears. The figure shows a demand…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

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Q: Quantity =   0 4  8  12  16   20 Price      = 10  8  6   4    2     0 If the purchase price is set…

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Q: The cross price elasticity between two goods is +0.9, the initial prices of the two goods are P1 =…

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Q: How does international nature of e-commerce affects its infrastructure? (4-5 sentences)

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Q: 7. Demand and supply of loanable funds are releted to the laws of demand and supply. O True O False

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Q: The tax places a wedge between the price buyers pay and the price sellers receive. 50 45 40 ?

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Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.