Leading edge workbook (1 Viewer)

[GaDaMIt]

Anyone have answers or know where i can get answers to page 29 "skills revision" of the 3rd edition? The leading edge website has answers to short answer and multiple choice for this chapter, but not the skills... any help will be greatly appreciated

EDIT: ive done all the questions except two, but still wanna make sure all my answers are right so answers will still be appreciated

furthermore, its a set of questions based on a tariff graph; can someone tell me how to answer -

"What is the size of the tariff per unit of good in this market"

and

"What is the size of the quota per unit of good in this market"

- in a general sense?

 

[twiig]

"What is the size of the quota per unit of good in this market"

If this is the question i think it is, the wording and concept of the question are wrong.

A quota is not per unit good, but is a flat number. Hence, the question should be:

"What is the quota of imported goods in this market?"

and the answer will simply be the number of goods able to be imported.

As for the size of the tariff question, this can be found from [price after tariff] - [price before tariff]

 

[GaDaMIt]

Just another thing that has struck me curious..

The quota graph from Leading Edge book (not Riley, theres a difference) wherein there are demand and supply curves both straight at a slant (Tim riley has supply as vertical)...

Firstly what significance is there between the difference of these two graphs for quotas

And also, considering just the leading edge book

Do questions about the quota graph work exactly the same way they do within a Tariff graph? I dont see any difference, aside what it is that is being applied (ie tariff or quota).

Questions like "What is the level of domestic demand/production before/after quota/tariff" have the same answers dont they if the graphs were to have the same values for price and quantity?