Figure 51 Illustrates the Steel Market for Mexico,assumed to Be a a "Small

question 68

Multiple Choice

Figure 5.1 illustrates the steel market for Mexico,assumed to be a "small" country that is unable to affect the world price.Suppose the world price of steel is given and constant at $200 per ton.Now suppose the Mexican steel industry is able to obtain trade protection.
Figure 5.1.Alternative Nontariff Trade Barriers Levied by a "Small" Country

-Consider Figure 5.1.Suppose the Mexican government provides a subsidy of $200 per ton to its steel producers,as indicated by the supply schedule SM (with subsidy) .??As a result of the subsidy Mexican steel producers gain ____ of producer surplus.

• A) $200
• B) $400
• C) $600
• D) $800

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The trait of being inclined to engage in social interactions and form relationships with others.

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