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Author Question: In general, what is the final result of trade barriers? What will be an ideal ... (Read 115 times)

geodog55

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on: Jun 29, 2018
In general, what is the final result of trade barriers?
 
  What will be an ideal response?

Question 2

Consider the following characteristics:
 
  a. low transactions costs
  b. small levels of pollution
  c. high levels of pollution
  d. clear assignment of property rights
 
  Which of the above are assumptions behind the Coase Theorem?
  A) a, b, and d B) a, c, and d C) a and d D) a only


janeli1

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Trade barriers prevent a nation from reaping the full benefits of specialization, push to adopt relatively inefficient production techniques, and force consumers to pay higher prices for protected products than they would otherwise pay. It should be noted however, that domestic producers do win in the short run by enjoying an artificial comparative advantage.

Answer to Question 2

C


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