i have an assignment and i need help on it. it’s In microeconomics . it’s due 9 am today Monday…

i have an assignment and i need help on it. it’s In microeconomics . it’s due 9 am today Monday US central time . April , 29 , 2013 which means 6 hours from this post . I have attached the assignment.

QuantitativeLiteracy Assignment – International

NAME____________________________

BANNER ID_______________________

Graph 1 below shows the market for Toyotas in the U.S. in 2008.

Graph 2 below shows the market for GM autos in the U.S. in 2008.

The supply and demand for Toyotas (1.8 million) were slightly higher than for GM (1.5 million) at the $30K range for the first time ever. GM was suffering from many inefficiencies during the financial crises that year.

1. If the U.S. put a tariff on Toyotas, show on Graph 1 what would happen to the supply of Toyotas. In a couple of well written sentences, explain why the supply of Toyotas would change, and compare the new equilibrium price and output to the old one.

2. Again, if the U.S. put a tariff on Toyotas, show on Graph 2 what would happen to the demand for GM autos. In a couple of well written sentences, explain why the demand for GM autos would change, and compare the new equilibrium price and output to the old one.

3. Explain in a couple of well written sentences which industry in the U.S. would benefit in the short run from putting a tariff on all Japanese autos, and how.

4. Explain in a couple of well written sentences which industries in the U.S. would lose in the long run if the U.S. put a tariff on all Japanese autos, and why.

5. From a brief research, choose a less developed country (one with low per-capita GDP), together with one of its leading agricultural products. Explain in a couple of well written sentences why it would be justifiable for that country to impose a tariff on the importation of the same product from the U.S.

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