A perfectly competitive industry faces domestic demand 5 100 – and has the industry supply curve s 5


A exactly competitive perseverance faces domiciliary claim  5 100 –  and has the perseverance give flexion s 5 40 1. (a) If the earth compensation is £50, what is the appreciate of net exports? (b) If the earth compensation is £20, what is the appreciate of net exports? (c) In the absence of occupation, what is the equilibrium domiciliary price? (d) At a earth compensation of £20, imagine the legislation levies a tariff of £5 per part. Calculate the appreciate of tariff wealth and the completion appreciate of the two deadweight mislaying triangles.