Let us consider the case of Venezuela. A tariff is imposed on imported clothes in Venezuela. In the presence of free tra

[answerhappygod]

Let Us Consider The Case Of Venezuela A Tariff Is Imposed On Imported Clothes In Venezuela In The Presence Of Free Tra 1 (87.39 KiB) Viewed 43 times

Let us consider the case of Venezuela. A tariff is imposed on imported clothes in Venezuela. In the presence of free trade, the quantity of clothes produced locally in Venezuela was 15529 per year. After the imposition of tariff, the quantity of clothes produced locally in Venezuela increased by two- fifth (2/5) or 40% compared to the estimate of the previous sentence when there was free trade. The quantity of clothes bought locally in Venezuela was 34473 per year before tariff. The quantity of clothes bought locally in Venezuela decreased by 32% in the presence of tariffs compared to what it was during free trade. a) What was the quantity sold locally per year after tariff? Please give your answers in two decimal places b) What is the quantity of clothes imported in Venezuela in a month on average after the imposition of the aforementioned tariff? Please give your answers in two decimal places c) What is the percentage change in the quantity of clothes imported in Venezuela per year after the imposition of the aforementioned tariff compared to free trade? Please give your answers in absolute value without percentage sign and in two decimal places. If your answer is -56.3452% write 56.35