Answer A-I please
(a) Draw a Supply Curve and the Demand Curve for the US Auto market. Label the supply S1 and the demand D1. Label the vertical axis P for Price and label the horizontal axis Q for Quantity of Milk. Label on the vertical axis the equilibrium price as P1. Label on the horizontal axis the equilibrium quantity as Q1.
Assume now that a tariff of 25% is placed on on all steel and aluminum that is imported into the U.S. from other nations.
(b) Would the Supply Curve for U.S. Autos increase, decrease or stay the same?
(c) If you said increase or decrease in (b), clearly show that change on the graph above and draw and label the new Supply as S2.
(d) Explain why the tariffs caused you to answer part (b) above the way you did.
(e) Would the Demand Curve for U.S. Autos increase, decrease or stay the same?
(f) If you said increase or decrease in (e), clearly show that change on the graph above and draw and label the new Demand as D2.
(g) Explain why the tariffs caused you to answer part (e) above the way you did.
(h) Now, would the Equilibrium Price of U.S. Autos increase, decrease or stay the same?
If you said increase or decrease, clearly show that change on the graph above and label on the vertical axis the new equilibrium price as P2.
(i) Now, would the Equilibrium Quantity of U.S. Autos increase, decrease or stay the same?
If you said increase or decrease, clearly show that change on the graph above and label on the horizontal axis the new equilibrium quantity as Q2.
Answer A-I please (a) Draw a Supply Curve and the Demand Curve for the US Auto market. Label the supply S1 and the demand D1. Label the vertical axis P for Price and label the horizontal axis Q for Qu...
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3. Draw a supply and demand diagram. Label each axis, the demand curve, the supply curve, and the equilibrium price and quantity a. Show the impact of an increase in supply. Label the new curve, the new equilibrium price, and the new equilibrium quantity b. Did the equilibrium price increase, decrease, or stay the same? c. Did the equilibrium quantity increase, decrease, or stay the same? 4. Draw a supply and demand diagram. Label each axis, the demand curve, the...
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Qd - 500 - 4p: Demand Curve Equation .100+2p:Supply Curve Equation In equilibrium Q& In equilibriump-p Question 2.1) Compute equilibrium price (p*) and equilibrium quantity (Q*) quantitatively Question 2.2) Draw the demand and supply curves on a graph (Graph 1) with q on horizontal and p on vertical axis & show the equilibrium price and quantity. Make sure you label the axes and point out the horizontal and vertical intercepts of the demand curve. Question 2.3) Find Qd and Q...
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A market demand and supply functions are as follows: Qd = 500 - P/4, and Qs = P/2 - 100. For parts 2-5, use ONE graph. 1. Determine the equilibrium price and quantity. 2. Graph the inverse demand and supply curves with Q on the horizontal axis and P on the vertical axis. Clearly label all axes, curves, intercepts, and the equilibrium price and quantity values 3.Assume the government sets a rule that the selling price cannot go above $400....
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