{"id":23038,"date":"2023-07-05T13:39:37","date_gmt":"2023-07-05T13:39:37","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/please-read-chapter-7-import-tariffs-and-quotas-under-perfect-competition-in-particular-please-pay-attention-to-p-200-p-204-212-p-222-227-and-p-229-234\/"},"modified":"2023-07-05T13:39:37","modified_gmt":"2023-07-05T13:39:37","slug":"please-read-chapter-7-import-tariffs-and-quotas-under-perfect-competition-in-particular-please-pay-attention-to-p-200-p-204-212-p-222-227-and-p-229-234","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/please-read-chapter-7-import-tariffs-and-quotas-under-perfect-competition-in-particular-please-pay-attention-to-p-200-p-204-212-p-222-227-and-p-229-234\/","title":{"rendered":"Please read Chapter 7 Import Tariffs and Quotas under Perfect Competition (in particular, please pay attention to p. 200, p. 204 \u2013 212, p. 222 \u2013 227, and p. 229 &#8211; 234)."},"content":{"rendered":"<p style=\"margin-right: 0px; margin-bottom: 1em; margin-left: 0px; font-size: small; cursor: auto; color: inherit;\">Please answer the following questions based on the concept of chapter 7 (some questions might require you to draw a diagram to illustrate your answers).&nbsp; You may want to draw one diagram for a small country (questions 1, 2, 3, 4, 5, and 6), then another diagram for a large country (questions 7, 8, 9, and 10).&nbsp; Each question is worth 5 points.&nbsp;<\/p>\n<ol style=\"margin-top: 1em; margin-right: 0px; margin-left: 0px; padding: 0px 0px 0px 40px; font-size: small; cursor: auto; color: inherit;\">\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">When a small importing country engages in free trade, what will be its domestic price?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">On a diagram, where can you find an increase in total surplus when a small importing country engages in free trade?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">If a small importing country imposes a per-unit tariff on an imported product, how does this affect the world price?&nbsp; Please explain.<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">On a diagram, what is the deadweight (as opposed to free trade) when a small importing country imposes a per-unit tariff?&nbsp;<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">Think about a small importing country setting a quota on an imported product. What is an equivalent import tariff of the import quota? What is the meaning of quota rents?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">How do different methods of allocating an import quota affect a country&#8217;s total surplus compared to using an equivalent import tariff?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">If a LARGE importing country imposes a per-unit tariff on an imported product, how does this affect the world price?&nbsp; Please explain.<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">What is the change in total surplus when a LARGE importing country switches from free trade to using a tariff?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">What are the terms of trade gain when a large importing country applies a per-unit tariff?<\/li>\n<li style=\"margin: 0px 0px 1em; cursor: auto; color: inherit;\">What is the optimal tariff for a large importing country?&nbsp;<\/li>\n<\/ol>\n<p style=\"margin: 9pt 0in; font-size: small; cursor: auto; color: inherit;\">\n<p><br style=\"cursor: auto; color: inherit;\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please answer the following questions based on the concept of chapter 7 (some questions might require you to draw a diagram to illustrate your answers).&nbsp; You may want to draw one diagram for a small country (questions 1, 2, 3, 4, 5, and 6), then another diagram for a large country (questions 7, 8, 9, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[710],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/23038"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=23038"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/23038\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=23038"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=23038"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=23038"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=23038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}