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Home and Foreign wheat supply and demand with $0.50 specific tariff

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S=20+20P and D=10020P are Home's supply and demand curves for wheat. S=40+20P and D=8020P are Foreign's supply and demand curves for wheat. On the graph to the right, show the effects of a specific tariff of $0.50 on wheat imports: 1) Show the price that Home's consumers pay for wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 2) Show Foreign's export price of wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 3) Using the point drawing tool, indicate the quantity supplied by Home. Label the point Q5. 4) Using the point drawing tool, indicate the quantity demanded by Home. Label the point Qd Carefully follow the instructions above and only draw the required objects..

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S=20+20P and D=10020P are Home's supply and demand curves for wheat. S=40+20P and D=8020P are Foreign's supply and demand curves for wheat. On the graph to the right, show the effects of a specific tariff of $0.50 on wheat imports: 1) Show the price that Home's consumers pay for wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 2) Show Foreign's export price of wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 3) Using the point drawing tool, indicate the quantity supplied by Home. Label the point Q5. 4) Using the point drawing tool, indicate the quantity demanded by Home. Label the point Qd Carefully follow the instructions above and only draw the required objects.

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Home and Foreign wheat supply and demand with $0.50 specific tariff

  • 1. S=20+20P and D=10020P are Home's supply and demand curves for wheat. S=40+20P and D=8020P are Foreign's supply and demand curves for wheat. On the graph to the right, show the effects of a specific tariff of $0.50 on wheat imports: 1) Show the price that Home's consumers pay for wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 2) Show Foreign's export price of wheat. Using the line drawing tool, draw a horizontal line at the correct price. Label the line PT. 3) Using the point drawing tool, indicate the quantity supplied by Home. Label the point Q5. 4) Using the point drawing tool, indicate the quantity demanded by Home. Label the point Qd Carefully follow the instructions above and only draw the required objects.