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suter [353]
3 years ago
11

Import restrictions due to the imposition of tariffs by the U.S. government will ultimately cause inefficient resource allocatio

n in the United States. will lead to lower incomes in the economy of U.S. trade partners. will lead to a decline in the quantity of the product consumed in the United States. all of the above are likely to occur
Business
1 answer:
kumpel [21]3 years ago
3 0

Answer:

all of the above are likely to occur

Explanation:

Import restrictions would limit the amount of goods imported into the US

as a result of the restriction, the amount of goods sold to the US by its trade partners would fall, as a result, the income of US trade partners would reduce.

Also, the quantity of goods available in the US would fall and consumption would fall.

Import restrictions might lead to US producing goods and services for ehuch it has no comparative advantage in its production. This would lead to ineeficent allocation of resources.

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3. A company manufactures two types of products: A and B. Three resources R1, R2, and R3 are required to make these products. a.
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(i)The units of production of Product A and B (x and y) are the decision variables

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8x+2y\leq500....(i)

2x+5y\leq400.......(ii)

3y\leq180

x>0, y>0

Explanation:

Let the number of Product A=x

Let the number of Product B=y

Each unit of product A requires 8 units of R1 and 4 units of R2.

Each unit of product B requires 2 units of R1, 5 units of R2, and 3 units of R3

The availabilities of resources R1, R2, and R3 are 500, 400, and 180

Since R1 \leq500,

Product A requires 8 units of R1 per production unit

Product B requires 2 units of R1 per production unit

Total Unit of R1 possible is given by the inequality: 8x+2y\leq500....(i)

Since R2 \leq400,

Product A requires 2 units of R2 per production unit

Product B requires 5 units of R2 per production unit

Total Unit of R2 possible is given by the inequality: 2x+5y\leq400....(ii)

Since R3 \leq180,

Product B requires 3 units of R2 per production unit

Total Unit of R2 possible is given by the inequality: 3y\leq180....(iii)

Since the manufacturer also makes a profit of $20 and $50 for products A and B, our objective is to maximize profit

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