Try another version of these questions

Question 1
The graph below shows the supply and demand curves and the world price for beer. Graphing window shows horizontal axis: 0 to 12, vertical axis: 0 to 12. Start Graph, Color red
xy
02
13
24
35
46
57
68
79
810
911
1012
1113
1214
Start Graph, Color blue
xy
010
19
28
37
46
55
64
73
82
91
100
11-1
12-2
Start Graph, Color black
xy
08
18
28
38
48
58
68
78
88
98
108
118
128
Label "Quantity of beer" at pixel coordinates (175,0).Label "Price of beer" at pixel coordinates (0,170).Label "Demand" at (1,10-1). Label "Supply" at (1,2+1). Label "Price with free trade" at (1,8).

What is equilibrium price if this country does not trade?

 

Hint


Question 2

What is equilibrium quantity if this country does not trade?

 

Hint


Question 3

What is the world price with free trade?

 

Hint


Question 4

What is domestic quantity demanded at the world price with free trade?

 

Hint


Question 5

What is the amount of domestic supply at the world price with free trade?

 

Hint


Question 6

At this world price with free trade, this country will

 

Hint


Question 7

What is the amount of the exports at the world price with free trade?

 

Hint


Question 8

What is the size of the gains from trade at the world price?

 

Hint