Two Step Tariff. Determine the equivalent quota. D: P = 124 - 2Q S: P = 44 + 2Q Tariff: P = 40.

Md Ariful Islam

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Md Ariful Islam

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D: P = 124 - 2Q S: P = 44 + 2Q. In equilibrium Qd = Qs and P is the same, so: 124 - 2Q = 44 + 2Q, 4Q = 80, Q = 20 units. P = 124 - 2*20 = $84. If a tariff of P = $40 is imposed, then new price is P = $124, then the new quantity demanded is: 124 = 124 - 2Q, Qd = 0 units. The new quantity supplied is: 124 = 44 + 2Q, 2Q = 80, Qs = 40 units. So, the equivalent quota is Qs - Qd = 40 - 0 = 40 units.
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