Business, 05.11.2019 02:31 johnboat

Import ban for kiwi fruit. initially, there are no import restrictions on kiwi fruit. the minimum supply price for domestic producers is $0.20, while the minimum supply price for foreign suppliers is $0.08. each supply curve is linear, with a slope of $0.01 per million pounds. in the initial equilibrium, the price is $0.18 and the quantity is 10 million pounds. the demand curve has a vertical intercept of $0.38 and a slope of minus$0.02 per million pounds. suppose imports are banned. 1.) use the point drawing tool to indicate the new equilibrium price and quantity. label this point 'b'. 2.) use the triangle drawing tool to identify the area of consumer surplus after the ban. carefully follow the instructions above, and only draw the required objects. consumer surplus prior to the import ban is equal to $ nothing (enter your response

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Import ban for kiwi fruit. initially, there are no import restrictions on kiwi fruit. the minimum su...

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