The market for avocados in Santa Cruz has 5 local producers and 5 local "consumers" (each is actuallya restaurant). Each producer can produce 1 avocado, and each consumer demands 1 avocado. Theproducers and consumers are:Table 1:ProducerCost|Amy's Farm$15Ostrich Farm$6Knott's Farm$14Fambrini's Farm$9JSM Organic Farms$10Table 2:WillingnessConsumerto payCafe Ivita$4Avanti's$1El Palomar$10Olita's$9Vim$5 2. The U.S. government, arguing that avocados are a strategically important good, imposes a $5 tariffon avocados. After the tariff is imposed...• a) How many domestic consumers buy avocados?• b) How many domestic producers sell avocados?c) The price paid by domestic consumers is $per avocado• d) Fill in the blanks: Santa Cruz will|(import/export)avocadose) The cost of the tariff to Santa Cruz is $

As per the guidelines, we can only answer 1 question up to 3 sub-parts at one time, we’ll answer…

Answered: The market for avocados in Santa Cruz…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 9PA

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Would you rather have efficiency or variety? That is, one opportunity cost of the variety of products we have is that each product costs more per unit than if there were only one kind of product of a given type, like shoes. Perhaps a better question is, “What is the right amount of variety? Can there be too many varieties of shoes, for example?” help explain this to me please in a couple paragraphs
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