Plato what is the value of justice


o Why soil washing – 1 or 2 sentences

o What you did – 2 sentences. Mention any

instruments that you used

o What you got – 3 or 4 sentences

o What did you infer/conclude – 1 sentence


o What is soil washing?

o How is it typically done?

o When do people do soil washing?

o Has it been done in the United States? If so, describe one or

two cases on why and how they did it.

o Was soil washing a major process/is it expected to become a

commercial one? If not, what is the time frame you think it will

take and reasons why it is not commercially used.

o 3/4 to a page in length


o Techniques involved in soil washing

o Concentration (?)

o What are surfactants and why are they used?

o Solid/Oil/Water system

o Gibb’s free energy of oil removal

o Equation

o How does surfactant help?

o 3/4 to a page

QUOTAS                                                      DUE:                                                             

Suppose we have the following demand and supply functions (taken from Assignment #2 and 3). 

HOME: Demand           P = 100 – ½ Q    Supply    P = ½ Q

FOREIGN          Demand             P = 200 – 2 Q     Supply             P = ¼ Q

1:         Two-country model with IMPORT QUOTAS: use the functions above 

(1 point)          a)     Calculate the free trade world price and imports/exports for each country.  Also find CS, PS, and SS for each country in free trade. 

(3 points)         b)    Suppose the IMPORTER imposes an import quota of 30 units.  Calculate

  • the new equilibrium world price.  (which will also be the exporter’s domestic price.)
  • The importer’s domestic price
  • the quota price. (difference between the domestic and world price)

(2 points)         c)     Find the change in Social Surplus in each country relative to free trade.  Give details on changes to CS and PS. Recall that quota rents need to be included in social surplus (EG: SSIMP = CS + PS + Rents).

(4 points)         d)    Find the importer’s optimal quota (to the nearest whole number).  Show your work.

2:         Two-country model with EXPORT QUOTA:  use the functions above.  Assume the importer does not impose any tariff or quota.

(3 points)         a)     Suppose the exporter imposes an export quota of 30 units.  .  Calculate

  • the new equilibrium world price.  (which will also be the importer’s domestic price.)
  • The exporter’s domestic prices
  • the quota price.

(2 points)         b)    Find the change in Social Surplus in each country relative to free trade.  Give details on changes to CS and PS. Recall that quota rents need to be included in social surplus (EG: SSEXP = CS + PS + RENTS)

(5 points)         d)    Find the exporter’s optimal quota (to the nearest whole number).  Show your work.


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