﻿ 2import demand (25 points)a) (10 points) draw a domestic market for sugar with a supply ofp=.2 +.1qs(note: price is per poundand quantity
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# 2import demand (25 points)a) (10 points) draw a domestic market for sugar with a supply ofp=.2 +.1qs(note: price is per poundand quantity is measured in thousands of tons) and a demand ofp= 5−.2qd. b) (5 points) if the world price of sugar is \$1.20, how much money do consumers spend on importedsugar? econ 333 hw 2page 2c) (5 points) if a tariff of \$0.20/pound is imposed, how many pounds of sugar are imported? d) (5 points) draw the import demand curve for sugar in the domestic market. be sure to label youraxes and intercepts.

### Other questions on the subject: Business

Danny "dimes" donahue is a neighborhood's 9-year-old entrepreneur. his most recent venture is selling homemade brownies that he bakes himself. at a price of \$2 each, he sells 100. at a price of \$1.5 each, he sells 300. instructions: round your answer to 1 decimal place. a. what is the elasticity of demand? 3.50 â± 0.1 . b. is demand elastic or inelastic over this price range? . c. if demand had the same elasticity for a price decline from \$1.5 to \$1 as it does for the decline from \$2 to \$1.5, would cutting the price from \$1.5 to \$1 increase or decrease danny's total revenue? .