ECON 3601 Midterm: Exam-ECON3601-2005April
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D e p a r t m e n t n a m e & c o u r s e n u m b e r : E c o n 3 6 0 1 b. Note: answer only four out of the following five questions: let the demand and supply curves for an export industry in a country be given by: D : 1 5 0 - 5 p , s : 5 0 + 5 p . (a) first, suppose that the country is small and is unable to influence the world price, which is . Let the country give a specific export subsidy of to the industry. Calculate the net loss resulting from the export subsidy. Explain your calculation. (b) now suppose the country is large and the foreign price falls from to after the.
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