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Microsoft Word - Group 4A.docx
1. With free trade between Australia and Canada, Australia would export beef to Canada. But Canada imposes an import quota on Australian beef.
- Drawagraphandexplainhowthisquotawouldinfluencetheconsumer prices of beef in Canada, consumer surplus (CS) and producer surplus (PS), benefits of beef importers, and the amount of deadweight loss in Canada.
- The volume of import quota on Australian beef is less than Australia?s total export volume of beef to Canada. Explain how this import quota would influence Australia?s beef exports to Canada, consumer price of beef in Australia?s domestic market, consumer surplus (CS) and producer surplus (PS) in Australia.
- Now, suppose consider Australia?s export of beef. Draw a graph and explain the impact of trade on the economy, consumers and producers.
- Suppose that the government decides to subsidise the exports of beef by paying a certain amount for each tonne sold overseas. How does this export subsidy affect the domestic price of beef, the quantity of beef produced, the quantity of beef consumed and the quantity of beef exported? How does it affect consumer surplus, producer surplus, government revenue and total surplus?
Can someone help me make a Presentation use those question, and write a 400 word report about this.
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