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11.

Country A reduces the quantity of an effective quota on clothing imported from Country B. At the same time, imported clothing from other countries to Country A has become cheaper. Which of the following graphs can illustrate the changes in Country A's market of clothing imported from Country B? E1 is the original equilibrium point and E2 is the new equilibrium point.

Question figure
12.

The following table shows the demand and supply schedules of rice.

Unit price ($)Quantity demanded (units)Quantity supplied (units)
51025
41220
31515
22010
1275

If the controlled price is raised from $2 to $4 per unit, sellers' total revenue will increase from _______ to _______.

13.

If the government raises the effective minimum wage of imported workers,

14.

An imposition of a minimum wage legislation would increase

15.

China abolished the car import quota system in 2005. As a result, _______________ in China will increase.

16.

In Country A, there is a quota restriction on an imported good. When the import quota quantity is Q1, the market price of the good is P1.

Question figure

Now suppose Country A increases the quota quantity from Q1 to Q3 as shown in the diagram below. As a result, the new total sales revenue would be

17.

Answer questions 11 and 12 by referring to the following information: The graph below shows the market situation of Good A when a per-unit sales tax of $30 is charged on it.

Question figure

Suppose the above per-unit sales tax is abolished. The new market price would be

18.

Answer questions 11 and 12 by referring to the following information: The graph below shows the market situation of Good A when a per-unit sales tax of $30 is charged on it.

Question figure

Within the range of the original and new market prices, the elasticity of demand of Good A is

19.

Under the Closer Economic Partnership Arrangement (CEPA), some of Hong Kong made goods exported to the Chinese mainland will enjoy zero tariffs. As a result, in the mainland,

20.
Good X (unit price)Quantity demanded in the market (unit)Quantity supplied in the market (unit)
$66040
$95545
$125050
$154555
$184060

If the government fixes the production quota of Good X at 45 units, the market price of Good X will be

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