1. (25%) The following figure depicts the international market for soybeans: 10+ Export supply Import demand 200 400 600

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1. (25%) The following figure depicts the international market for soybeans: 10+ Export supply Import demand 200 400 600

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1 25 The Following Figure Depicts The International Market For Soybeans 10 Export Supply Import Demand 200 400 600 1
1 25 The Following Figure Depicts The International Market For Soybeans 10 Export Supply Import Demand 200 400 600 1 (78.96 KiB) Viewed 42 times
1. (25%) The following figure depicts the international market for soybeans: 10+ Export supply Import demand 200 400 600 Quantity (millions of bushels of soybeans) a) What is the world price of soybeans if there is free international trade? b) If the country that imports soybeans imposes a tariff of $2 per bushel, - What is the world price of soybeans? - What quantity of soybeans gets traded internationally? - What is the price of soybeans in the importing country? What is the tariff revenue for the importing country? Show all answers on the graph! a Price (dollars per bushel of soybeans) A co O
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