Assume that the free trade unit price of a lamp is 200 and, Ask an Expert

Economics

Assume that the free trade unit price of a lamp is $200 and unit cost of an input for a lamp is $100. Given this information about lamp production in a country, calculate the effective rate of protection (ERP) afforded to the lamp industry by a 12% tariff on lamps and each of the following tariffs on lamp in outs.

a) 12% tariff on imported lamp inputs

b) 5% tariff on imported lamp inputs

c) 20% tariff on imported lamp inputs

d) 0% tariff on imported lamp inputs

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91366859

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