(Solved): 2 . Effects of a tariff on international trade The following graph shows the domestic supply of and ...

2 . Effects of a tariff on international trade The following graph shows the domestic supply of and demand for soybeans in Venezuela. Venezuela is open to international trade of soybeans without any restrictions. The world price $\left({\mathrm{P}}_{\mathrm{W}}\right)$ of soybeans is $\$545$ per ton and is represented by the horizontal black line. Throughout this problem, assume that the amount demanded by any one country does not affect the world price of soybeans and that there are no transportation or transaction costs associated with international trade in soybeans. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Soybeans in Venezuela Price (Dollars per ton) Domestic Demand (Thousands of tons of soybeans) Domestic Supply (Thousands of tons of soybeans) If Venezuela is open to international trade of soybeans without any restrictions, it will import the full value for your answer, accounting for the horizontal axis units.) tons of soybeans. (Note: Be sure to enter Suppose the Venezuelan government wants to reduce imports to exactly 200,000 tons of soybeans to help domestic producers. A tariff of per ton will achieve this. A tariff set at this level would raise in revenue for the Venezuelan government.