Author Question: You are given the following straight-line trend equation: Sales = 1,275 + 89.3t, where 1990 ... (Read 24 times)

rosent76 · **on:** Jul 1, 2018

You are given the following straight-line trend equation: Sales = 1,275 + 89.3t, where 1990 represents t = 1. Project sales for 2000.

What will be an ideal response?

Question 2

Supporters of import restrictions and protectionist policies place greater weight on producer welfare than on consumer welfare. Comment.

What will be an ideal response?

Ahnyah · **Reply #1 on:** Jul 1, 2018

Answer to Question 1

2,257.3

Answer to Question 2

Import restrictions increase the producer surplus of domestic producers. Consumer surplus, however, decreases by more than producers gain. Thus the statement seems to be correct.