ECON201-HW9

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Refer to Figure 9-9. Consumer surplus in this market after trade is

A

Refer to Figure 9-9. Total surplus in this market after trade is

A + B + C + D

Refer to Figure 9-9. Producer surplus in this market after trade is

B + C + D

Refer to Figure 9-9. The change in total surplus in this market because of trade is

D, and this area represents a gain in total surplus because of trade

The infant-industry argument

is based on the belief that protecting industries when they are young will pay off later

A quota is

a limit on the quantity of imports

A tariff is a tax placed on

an imported good and consumers pay higher price of the good than the world price


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