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Category > Management Posted 01 Jun 2017 My Price 10.00

Bangladesh consumes pairs of socks

Bangladesh

 

The graph above shows the demand and supply of socks for the country of Bangladesh.

a. If trade is avoided, Bangladesh consumes _____ pairs of socks at a price of _____ per socks.

b. With free trade, for a world price of $4 per pair of socks, Bangladesh is producing _____pairs of socks.

c. With free trade, for a world price of $4 per pair of socks, Bangladesh is consuming _______ pairs of socks.

d. With free trade, for a world price of $4 per pair of socks, Bangladesh is importing _________pairs of socks.

e. If the world price is $4 per sock, and the government of Bangladesh imposes a tariff of $1, Bangladesh produces ____________ and imports __________pairs of socks.

f. If the world price is $4 per pair of socks, and the government of Bangladesh imposes a tariff of $1, how much tariff revenue will the Bangladesh government collect? _____ .

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Jun 2017 05:06 PM My Price 10.00

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