Homework Help: International Econ.. Please Help!

Posted by Mary on Monday, July 26, 2010 at 12:53pm.

Suppose the U.S. is an importer of product X and that there are no trade restrictions. Let us asuume that the U.S. consumers buy 1 million units of X each year, of which 400,000 are produced domestically adn 600,000 are imported.

A. Suppose a technological advance in Japan causes the world price of X to fall by $100. Draw a graph to show this change affects the well-being of U.S. consumers and U.S. producers of product X. ( you can assume the U.S. is a small country in the world market for product X.)

I need help in figuring out how to go about and solve or know the effects so i can be able to draw a graph...

No one has answered this question yet.

Answer this Question

Related Questions

International Econ.. Please Help! - Suppose the U.S. is an importer of product ...
economics - Write a 300 - 400 word essay explaining the advantages and ...
Help - Suppose the U.S is an importer of product X and that there are no trade ...
International Econ.. Please Help! - Suppose a country announces that it is ...
International Econmics... Help Needed!!!! - Suppose the U.S is an importer of ...
business - Write a 200- to 300-word essay arguing for or against unrestricted ...
International Econ - Suppose a country announces that it is moving toward free ...
International Econ.. Please Help! - Practical dicussion of trade policy is ...
International Business - What are some of the common arguments for and against ...
Microeconomics - 8. Assume that the United States is an importer of televisions ...

For Further Reading

First Name:
School Subject:
Answer: