How Do Imports Affect Buyers' Consumer Surplus

question 169

Essay

How do imports affect buyers' consumer surplus?

---

Definitions:

Dependent Variable

A variable in an experiment or study whose changes are determined by the presence or variation of one or more independent variables.

Independent Variable

Variables in a study that are presumed to influence or determine the dependent variable, essentially the cause in a cause-and-effect relationship.

Least Squares Estimate

A method of estimating the parameters of a linear regression line by minimizing the sum of the squares of the differences between the observed and predicted values.

Y-intercept

The point where a line crosses the Y-axis of a graph, indicating the value of the dependent variable when the independent variable is zero.