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(Solved): In an economy demand and supply equations are as follows: Qd=400-P (demand) Qs=100+P (supply) ...



In an economy demand and supply equations are as follows: Qd=400-P (demand) Qs=100+P (supply) Answer the questions. a. What is the Qe in a closed economy? b. What is the Pe in a closed economy? If world price is $50; c. Domestic production? d. Domestic consumption? e. Import? If there is $50 tariff per unit; f. Domestic production? g. Domestic consumption? h. Import? i. Change in producer supply? j. Government revenue k. Production deadweight loss? l. Consumption deadweight loss? If there is no tariff but 100 units quota; m. Price level? n. Quota rent?



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