One reason why consumers are unlikely to be too upset about tariffsO tariffs are an inexpensive way to create jobs.O most consumers benefit from protection.O the costs are so spread out that no one pays a big share of the total.O consumer losses are not real losses. Suppose the domestic supply (QS) and demand (OD) for skateboards in the UnitedStates are given by the following set of equationsQS - -60 + 3PQD - 390 - 2PCalculate the change in producer surplus when the United States engages in free tradeand imports skateboarusTHe rest of the world at a per unit price of S$75.$3,375.+$2,812.50.-$2,812.50.+$3,375.

1) Tariffs are divided into an enormous number so that everybody pays a tiny charge. Thus it is…

One reason why consumers are unlikely to be too upset about tarif O tariffs are an inexpensive way to create jobs. most consumers benefit from protection. O the costs are so spread out that no one pays a big share of the total. O consumer losses are not real losses.

One reason why consumers are unlikely to be too upset about tarif O tariffs are an inexpensive way to create jobs. most consumers benefit from protection. O the costs are so spread out that no one pays a big share of the total. O consumer losses are not real losses.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.

Question

One reason why consumers are unlikely to be too upset about tariffs
O tariffs are an inexpensive way to create jobs.
O most consumers benefit from protection.
O the costs are so spread out that no one pays a big share of the total.
O consumer losses are not real losses.

Suppose the domestic supply (QS) and demand (OD) for skateboards in the United
States are given by the following set of equations
QS - -60 + 3P
QD - 390 - 2P
Calculate the change in producer surplus when the United States engages in free trade
and imports skateboarus
THe rest of the world at a per unit price of S$75.
$3,375.
+$2,812.50.
-$2,812.50.
+$3,375.

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