Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
The European Union (EU) and United States (US) demand and supply equations for corn are:
QDEU = 70 – 2 PEU QSEU = 20 + 3PEU
QDUS = 130 – 3PUS QSUS = 30 + PUS
where QD and QS represent the quantities demanded and supplied in both countries (in billions of tons) and P represents the Dollar price per ton of corn in each country.
a. Graph the US and European Union supply and demand curves for corn (what are
b. Determine the US and European Union equilibrium prices in the absence of trade.
c. Find the surplus (or shortage) in both countries at the price of $ 20.
Now assume that there is free trade between the European Union and US.
d. Determine the international equilibrium price of corn (per ton).
e. How much corn is produced and consumed in the European Union and US.
f. How much corn is traded between the two regions. Draw graphs to represent the
market situation before and after trade.
Suppose now that the European Union limits its imports of corn to 14 billions of tons.
g. What will be the new equilibrium prices of corn in the European Union and US?
h. What are the new domestic production and consumption levels in each region? How
much corn is traded?
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more