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Cars use steel and glass in their production. Each car needs 2 units of steel and 3 units

Cars use steel and glass in their production. Each car needs 2 units of steel and 3 units

Cars use steel and glass in their production. Each car needs 2 units of steel and 3 units of glass in its production. If the price of a car is 10 outside1of the border, and 14 inside the border, while the price of a unit of steel is 2outside the border and 3 inside the border, while the price of a unit of glasses .5 outside the border and 1 inside the border, what is the effective rate of protection on cars? Can you explain what its relation is to the nominal rate?Namely, if it exceeds it or falls short of it, why this would be expected from the data?

Johnson 10-Nov-2017

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