Suppose that the U.S. government puts an import quota on roses. Show on your graph the effect on the quantity bought by U.S. consumers, the quantity produced by U.S. rose growers, and the quantity imported.
Use the following information to work Problems 8 to 10.
U.S. expands China paper anti-dumping tariff
The United States raised the tariff on glossy paper imports from China to 99.65 percent, as a result of complaints by NewPage Corp. of Dayton, Ohio. Imports from China increased 166 percent from 2005 to 2006. This glossy paper is used in art books, high-end magazines, and textbooks.
Source: Reuters, May 30, 2007
8.Explain who, in the United States, gains and who loses from this tariff on paper. How do you expect the prices of magazines and textbooks to change?eco
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