Table 13.14 shows the output of kumquats per month.

-Suppose the following domestic demand and supply schedule for Mexico's toothpaste industry:
a)In the absence of free trade,what is the equilibrium price and quantity traded domestically for Mexico's toothpaste industry?
b)Suppose the international price for a toothpaste is 1 peso.Will Mexico export or import toothpaste? How many units?
Now suppose the international price is 0.75 peso.
c)If the Mexican government limits the number of imported toothpaste to 1 million units.How many units will Mexico import and what will be the equilibrium price?
d)If the Mexican government places a 0.10 peso tariff on toothpaste.How many units will Thailand import?

Question

Table 13.14 shows the output of kumquats per month.
 
-Suppose the following domestic demand and supply schedule for Mexico's toothpaste industry:
  a)In the absence of free trade,what is the equilibrium price and quantity traded domestically for Mexico's toothpaste industry?
b)Suppose the international price for a toothpaste is 1 peso.Will Mexico export or import toothpaste? How many units?
Now suppose the international price is 0.75 peso.
c)If the Mexican government limits the number of imported toothpaste to 1 million units.How many units will Mexico import and what will be the equilibrium price?
d)If the Mexican government places a 0.10 peso tariff on toothpaste.How many units will Thailand import?

Quizplus · Accepted Answer

The Answer of Table 13.14 shows the output of kumquats per month.
 
-Suppose the following domestic demand and supply schedule for Mexico's toothpaste industry:
  a)In the absence of free trade,what is the equilibrium price and quantity traded domestically for Mexico's toothpaste industry?
b)Suppose the international price for a toothpaste is 1 peso.Will Mexico export or import toothpaste? How many units?
Now suppose the international price is 0.75 peso.
c)If the Mexican government limits the number of imported toothpaste to 1 million units.How many units will Mexico import and what will be the equilibrium price?
d)If the Mexican government places a 0.10 peso tariff on toothpaste.How many units will Thailand import?

Table 1314 Shows the Output of Kumquats Per Month