problem set 8 - Tariff columns. Hint: your graph should...

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Dr. Seiji Steimetz ECON 101 Department of Economics California State University, Long Beach Page 1 of 1 Problem Set 7 Please complete the following end-of-chapter “ Problems and Applications in Hubbard & O’Brien. I encourage you to work these problems in groups. Chapter 8 ± 2.6 ± 3.4 ± 3.11 ± 3.12 ± 4.6 ± 4.14 ± Referring to Problem 4.14, suppose the government imposes a tariff of $0.25 per kumquat instead of imposing a quota. Draw a graph illustrating the effects of this tariff and construct a table like that in Problem 4.14 using “Without Tariff” and “With
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Unformatted text preview: Tariff columns. Hint: your graph should look identical to that in Problem 4.14, except the $1.00 price now represents the U.S. price of kumquats including the tariff amount. Also, your table should look identical to that in Problem 4.14 (except the word Quota is replaced with Tariff). Important Note Be sure to look at all of the Review Questions as well. You dont need to write out answers to them just work through them verbally or discuss them with your study group....
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This note was uploaded on 02/11/2010 for the course ECON 101 taught by Professor Steimetz during the Fall '08 term at CSU Long Beach.

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