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Question: 4. Effects of a tariff on international trade The following graph shows the domestic supply of an...
Question: 4. Effects of a tariff on international trade The following graph shows the domestic supply of an...

Show transcribed image text 4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for maize in Bangladesh. The world price (Pw) of maize is $265 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 465 Domestic Demand Domestic Supply 415 365 315 290 265 240 215 0 30 60 90 120 150 180 210 240 270 300

4. Effects of a tariff on international trade The following graph shows the domestic supply of and demand for maize in Bangladesh. The world price (Pw) of maize is $265 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 465 Domestic Demand Domestic Supply 415 365 315 290 265 240 215 0 30 60 90 120 150 180 210 240 270 300