Check Your Understanding

442

  1. Question

    Use the information provided in Figure 44.2 to answer the following questions:

    What is the smallest tariff that would cause all plates to be supplied by U.S. firms?

  2. Question

    What is the smallest import quota that would have no effect on international trade? Hint: You can think of the question this way: Every import quota smaller than what level would have an effect on international trade?