1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Romashka-Z-Leto [24]
2 years ago
8

Suppose that China is a small country of peanuts import, and the demand and supply of peanuts are as follows:

Business
1 answer:
chubhunter [2.5K]2 years ago
7 0

1. a. Under free trade, China's peanuts domestic production will be 100 units (50 + 5 x 10).

b. Under free trade, China's peanuts import will be 200 units (300 - 100).

c. Under free trade, China's peanuts export will be negative 200 units (100 - 300).

d. Free trade ensures that domestic consumption is met because domestic manufacturers will produce 100 units while the remaining 200 units demanded by consumers will be met through imports.

2. a. With a quota limit of 200 units for peanuts import, peanuts production will still be 100 units (50 + 5 x 10).

b. Under the quota limit, China's peanuts import will be 200 units (300 - 100) since internal production is not more than 100 units.

c. Under the quota limit, China's peanuts export will be zero units.

d. The quota limit will still ensure that domestic consumption is met because the quota of 200 units plus 100 units of internal production will meet domestic demand for 300 units.

<h3>What are Free Trade and Quota?</h3>

Free trade implies the absence of any government-imposed limits on imports and exports.  On the other hand, quota refers to the trade restriction imposed by governments.

<h3>Data and Calculations:</h3>

D = 400 - 10P

S = 50 + 5P

Where:

D = Demand

S = Domestic Supply

P = Price

Price = $10

a. The quantity demanded will be 300 units (400 - 10 x  10).

b. The quantity supplied (domestically) will be 100 units (50 + 5 x 10).

c. The import quantity will be 200 units (300 - 100).

c. Quota imposed on imports of peanuts = 200 units

Thus, <u>there will be no changes</u> in the welfare of consumers and manufacturers under the quota limit compared with free trade because the quota meets domestic demand.

Learn more import and export quota systems and free trade here: brainly.com/question/14913943 and brainly.com/question/10608502

You might be interested in
Newman Finley wishes to become a millionaire. His money market fund has a balance of $296,375 and has a guaranteed interest rate
Rus_ich [418]

Answer:

Investment period = 24 years

Explanation:

The total amount that an investment made today would become  if invested at a particular rate for certain number of years is known as the future value.

The $1,200,000 is the desired future value, the $296, 375 is the present value and the 6% is the interest rate.

FV = PV × (1+r)^n

1,200,000 = 296,375 × (1.06)^(n)

(1.06)^(n) = 1200000/96,375

(1.06)^(n) =4.048924504

find the log of both sides

n log 1.06= log 4.048924504

n= log 4.048924504/log 1.06

n = 24

It will take 24 years

3 0
3 years ago
A _____ is a set of functions or activities within an organization that work together for the aim of the organization.
scoray [572]
The answer to your question is System.
4 0
3 years ago
Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows.
Elina [12.6K]

Answer:

Break-even point = 110 lawns & Break-even sales point = $8,800

Explanation:

Total fixed costs = Depreciation + Advertising + Insurance

Total fixed costs = 1,400 + 200 + 3,680

Total fixed costs = $5280/month

Total variable cost per unit = Weed + Direct labor + Fuel

Total variable cost per unit = 13 + 16 + 3

Total variable cost per unit = $32/lawn

Contribution margin ratio = (Sales per unit - variable cost per unit) / sales per unit

Contribution margin ratio = (80 - 32) / 80

Contribution margin ratio = 0.6

Contribution margin ratio = 60%

Break-even sales = Fixed costs / contribution margin ratio

Break-even sales = $5280 / 60%

Break-even sales = $8800

Break-even sales units = Break-even sales / sales per unit

Break-even sales units = 8800 / 80

Break-even sales units = 110 lawns

Break-even point = 110 lawns & Break-even sales point = $8,800

8 0
2 years ago
........................
diamong [38]
I think it is D ...... sorry if it is wrong .-.
7 0
3 years ago
Consider a Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor (the number of
olga_2 [115]

Based on the above scenario, the production function is Y=K1/3L1/3H1/3.

<h3>What is  production function?</h3>

The word production function is known to be an equation that is said to be the one that shows the relationship between the quantities of productive factors (that is labor and capital) that are said to be used and also the number of product that has been obtained.

Note that from the above, the equation that stands for Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor, and H is human capital  is Y=K1/3L1/3H1/3.

Learn more about production function from

brainly.com/question/25672041

3 0
2 years ago
Other questions:
  • In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial acco
    9·1 answer
  • Consumers use and process different aspects of advertising or messages. __________ yields greater attention and deeper processin
    14·1 answer
  • Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common
    8·1 answer
  • In 2008, 1 in approximately every 200 cars in the United States was stolen. Beth owns a car worth $20,000 and is considering pur
    15·1 answer
  • You are trying to determine how much money to save (invest) each year in your 401(k) Plan to fund your retirement in order to pa
    12·1 answer
  • In 2005, ABC Company issued $100,000 of 20-year bonds at face value. Ten years later, in 2015, the company retired the bonds ear
    13·1 answer
  • References are typically included on a résumé. please select the best answer from the choices provided t f
    14·1 answer
  • __________is concerned with improving productivity and safety by designing workplaces, equipment, instruments, computers, workst
    14·1 answer
  • Firestone allows companies like Sears and Discount Tire to distribute and discount its tires. This action significantly increase
    10·1 answer
  • Describe the three steps in qualitative data analysis and explain how and why these steps are iterative.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!