Global Economics

I have attached an answer key please redo answers so that plagirism is not detected and explain answers to answer key in detail.   APA format is needed.


The table and graph shown below illustrate the demand and supply schedules for television sets in Venezuela, a “small” nation that is unable to affect world prices.


In addition to the answer for each item below, describe in a few sentences how you solved each part of the problem. (This will allow the instructor to assign partial credit in case an answer is incorrect.)

  • Suppose Venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import?
  • Assume that Venezuela imposes a quota that limits imports to 300 TV sets. Determine the quota induced price increase and the resulting decrease in consumer surplus.
  • Calculate the quota’s redistributive effect, consumption effect, protective effect, and revenue effect.
  • Assuming that Venezuelan import companies organize as buyers and bargain favorably with competitive foreign exporters, what is the overall welfare loss to Venezuela as a result of the quota?
  • Suppose that foreign exporters organize as a monopoly seller. What is the overall welfare loss to Venezuela as a result of the quota?

In case you have a similar question and need it answered for you just say write my essay. At Academized we have all the most qualified academic writers and tutors, for all your assignments, essays, cases studies, discussion posts, project proposals, research papers, discussion posts, nursing assignments, admission essays, blog articles, and other forms of academic work.

If you don’t want a custom paper, just buy a pre-written essay from Buy College Essay.