# The domestic market for calculators is perfectly

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Chapter 2 / Exercise 43
Applied Calculus for the Managerial, Life, and Social Sciences
Tan
Expert Verified
53.The domestic market for calculators is perfectly competitive and is in equilibrium. Domestic demand is given by Qd= 100 – Pand domestic supply is given by Qs= 4P. The world price for calculators is \$10. How many units of calculators will be imported? b.a)0c.b)10d.c)30e.d)50Ans: D
Page Reference: 403Difficulty: MediumHeading: Import Quotas and Tariffsa.54.The domestic market for calculators is perfectly competitive and is in equilibrium. Domestic demand is given by Qd= 100 – Pand domestic supply is given by Qs= 4P. The world price for calculators is
##### We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
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Chapter 2 / Exercise 43
Applied Calculus for the Managerial, Life, and Social Sciences
Tan
Expert Verified
\$10. Now, a tariff of \$10 is imposed on all imports. How many units ofcalculators will be imported now?
Page Reference: 403Difficulty: MediumHeading: Import Quotas and Tariffsa.55.The domestic market for calculators is perfectly competitive and is in equilibrium. Domestic demand is given by Qd= 100 – Pand domestic supply is given by Qs= 4P. The world price for calculators is \$10. Now, a tariff of \$10 is imposed on all imports. How much revenue does this policy generate for the government?
Page Reference: 403Difficulty: MediumHeading: Import Quotas and Tariffsa.56.The domestic market for calculators is perfectly competitive and is in equilibrium. Domestic demand is given by Qd= 100 – Pand domestic supply is given by Qs= 4P. The world price for calculators is \$10. As an alternative to a tariff of \$10 per unit, the government considers an outright trade prohibition on calculators. Which is better for the domestic economy?
Page Reference: 397-403Difficulty: Medium