(Solved): The following graph shows the domestic supply of and demand for oranges in Zambia. Zambia is open ...

The following graph shows the domestic supply of and demand for oranges in Zambia. Zambia is open to international trade of oranges without any restrictions. The world price (Pw) of oranges is $750 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 oranges and that there are no transportation or transaction costs associated with international trade in oranges. 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. 1110 PRICE (Dollars per ton) 1070 1030 €990 950 910 870 830 790 750 710 0 1 I I Supply + Demand A tariff set at this level would raise $ PW 50 100 150 200 250 300 350 400 450 500 QUANTITY (Thousands of tons of oranges) Graph Input Tool Market for Oranges in Zambia Price (Dollars per ton) Domestic Demand (Thousands of tons of oranges) If Zambia is open to international trade of oranges without any restrictions, it will import full value for your answer, accounting for the horizontal axis units.) 990 in revenue for the Zambian government. 150 Domestic Supply (Thousands of tons of oranges) Suppose the Zambian government wants to reduce imports to exactly 100,000 tons of oranges to help domestic producers. A tariff of $ will achieve this. ? 350 tons of oranges. (Note: Be sure to enter the per ton