Answer A-I please (a) Draw a Supply Curve and the Demand Curve for the US Auto...

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.

Solutions

Expert Solution

Rahul Sunny answered 10 months ago

Next > < Previous

Related Solutions

Answer A- H please a) Draw a Supply Curve and the Demand Curve for the Sugar...

Answer A- H please a) Draw a Supply Curve and the Demand Curve for the Sugar Label the supply S1 and the demand D1. Label on the vertical axis P for the equilibrium price and label the horizontal axis Q for the equilibrium quantity. We currently have the sugar market in equilibrium at a price of $3 per pound and 100,000 pounds. Now assume that the state government just announced a new price floor program for the sale of sugar....

a) Draw a supply and demand curve for US government bonds. b) Show and explain what...

a) Draw a supply and demand curve for US government bonds. b) Show and explain what the effect expansionary monetary policy, using open market operations, will have on equilibrium. c) Show and explain what the effect of contractionary monetary policy, using open market operations, will have on equilibrium. d) Explain what the Fed should do if the interest rate is below its target rate? Or above?

Draw a supply and demand diagram for the market for food. (a) If the Supply curve...

Draw a supply and demand diagram for the market for food. (a) If the Supply curve is perfectly elastic, what happens to price and quantity when demand shifts? (b) If the Demand curve is perfectly inelastic, what happens to price and quantity when supply shifts?

1. Please draw a supply and demand diagram for the “Market for Pasta” and answer the...

1. Please draw a supply and demand diagram for the “Market for Pasta” and answer the following questions (Label all axes and curves). a. Assume pasta and red wine are Complements. Furthermore, suppose the price of red wine increases. Illustrate the effect of the price change on the Demand Curve for Pasta. b. Additionally, there is a (positive) technological improvement in pasta production. Illustrate the effect of the new technology on the Supply Curve for Pasta. c. How do the...

(i) Draw the demand and supply curve for the illegal cigarette market in Australia. (ii) What...

(i) Draw the demand and supply curve for the illegal cigarette market in Australia. (ii) What assumptions have you made about the demand and supply elasticities in the illegal market when compared with the legal market? (This question is based on the article: “Fighting the ‘Up in Smoke’ gangs,” John Silvester. The Age. Saturday, December 16, 2017. Page 38.) Comments: I understand the 'legal' cigarette market within Australia, in this case I believe that demand is elastic as consumers are...

PLEASE COMPLETE ON WORD 1) DRAW & EXPLAIN the current supply and demand curve for any...

PLEASE COMPLETE ON WORD 1) DRAW & EXPLAIN the current supply and demand curve for any given product ex .draw the supply and demand for Nike shoes 2) DRAW & EXPLAIN at least 10 SEPERATE examples of various determinants that will effect Supply and any shift that occurs in the equilibrium - say what the determinant is, how it will affect supply or demand, and then draw the shift in supply or demand. ex. Draw explain why wages might increase for...

Please draw a supply and demand diagram for the “Market for Tom Jones Records” and answer...

Please draw a supply and demand diagram for the “Market for Tom Jones Records” and answer the following questions (Label all axes and curves). a. Assume Tom Jones records and wine are complements. Additionally, the price of wine decreases. Illustrate the effect of the price change on the Demand Curve for Tom Jones records. b. Furthermore, the government enacts a Tom Jones tax (on the supply side). In other words, suppliers of Tom Jones records must now pay a tax...

Draw a supply and a demand curve and label the market equilibrium on the axes with...

Draw a supply and a demand curve and label the market equilibrium on the axes with P1 and Q1. Illustrate the effect of an increase in demand on price and quantity. Label the new equilibrium values on the axes with P2 and Q2. In your own words and in detail explain the market adjustment leading to the new equilibrium. Show the relevant elements of your explanation in the graph

Draw a supply and a demand curve and label the market equilibrium on the axes with...

Draw a supply and a demand curve and label the market equilibrium on the axes with P1 and Q1. In the same graph, show the effects of an increase in supply and an increase in demand on price and quantity. Label the new equilibrium values on the axes with P2 and Q2. Add one more curve – either for supply or demand demand – to your graph and show that the effect of a simultaneous increase in supply and demand...

Please answer all the ten questions. Question 10 A demand or supply curve with ______________ would...

Please answer all the ten questions. Question 10 A demand or supply curve with ______________ would be vertical in appearance. Group of answer choices zero elasticity middle elasticity infinite elasticity unitary elasticity Question 11 Jean has $50 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $10 while each yoga class costs $5. The total utility from each of these activities is set out in the table below....

Subjects