Price Quantity Supplied Quantity Demanded
(dollars per pound) (thousands of poundsper year) (thousands of pounds per year)
21 120 60
18 100 100
15 80 140
12 60 180
9 40 220
1) The United States imports cheese from a variety of countries.The table above gives the domestic supply
of, and demand for, cheese in the United States. The world price ofcheese is $12 per pound, and trade is
unrestricted.
a) How many pounds of cheese are consumed in the UnitedStates?
b) How many pounds of cheese are produced in the UnitedStates?
c) How many pounds of cheese are imported into the UnitedStates?
If a $3 per pound tariff is imposed,
d) How many pounds of cheese are consumed in the UnitedStates?
e ) How many pounds of cheese are produced in the UnitedStates?
f) How many pounds of cheese are imported into the UnitedStates?
g) How much will the U.S. government collect in tariffrevenue?
h) Who benefits from the tariff? Who loses
Price Quantity Supplied Quantity Demanded
(dollars per pound) (thousands of poundsper year) (thousands of pounds per year)
21 120 60
18 100 100
15 80 140
12 60 180
9 40 220
1) The United States imports cheese from a variety of countries.The table above gives the domestic supply
of, and demand for, cheese in the United States. The world price ofcheese is $12 per pound, and trade is
unrestricted.
a) How many pounds of cheese are consumed in the UnitedStates?
b) How many pounds of cheese are produced in the UnitedStates?
c) How many pounds of cheese are imported into the UnitedStates?
If a $3 per pound tariff is imposed,
d) How many pounds of cheese are consumed in the UnitedStates?
e ) How many pounds of cheese are produced in the UnitedStates?
f) How many pounds of cheese are imported into the UnitedStates?
g) How much will the U.S. government collect in tariffrevenue?
h) Who benefits from the tariff? Who loses
