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Author Question: The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three ... (Read 75 times)

Caileynorton

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on: Oct 12, 2022

Question 1

Suppose the Canadian government imposes trade restrictions (tariffs or quotas) on the import of steel. Which of the following groups are likely to be in favour of this policy?
◦ foreign steel producers
◦ Canadian consumers
◦ Canadian steelworkers' union
◦ foreign steel consumers
◦ Canadian automotive union

Question 2

The table below shows the prices in Canada of one kilogram of cheddar cheese produced in three different countries. Assume that all cheddar cheese is identical.

Producing CountryCanadian Price in $Canadian Price in $
​Free Trade40% Import Tariff
Canada10.00________
United Kingdom  9.00________
United States  8.00________

TABLE 20-1

Refer to Table 20-1. If Canada has a 40% tariff in place on the import of cheddar cheese, the price per kilogram of cheese from Canada, United Kingdom and United States respectively, is
◦ $10, $10 and $10.
◦ $10, $9.00 and $8.00.
◦ $10, $12.60 and $11.20.
◦ $14, $9.00 and $8.00.
◦ $14, $12.60 and $11.20.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Caileynorton on Oct 12, 2022

jbsuccess1

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Reply #1 on: Oct 12, 2022
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Caileynorton

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Reply 2 on: Oct 12, 2022
Excellent

Laurenleakan

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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