Which One of the Following Interest Groups Would Gain from the Imposition

question 266

Multiple Choice

Which one of the following interest groups would gain from the imposition of a quota on United States steel imports?

• A)United States firms that build skyscrapers of steel and glass.
• B)Steelworkers in Pennsylvania and Ohio.
• C)United States industries that use farm equipment and machine tools.
• D)Foreign producers who sell steel in the United States.

---

Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales over a certain period, such as rent or salaries.

Output

The amount of goods or services produced by a person, machine, or industry.

Marginal Product

Marginal product refers to the additional output generated by employing one more unit of a specific factor of production, holding all other factors constant.

Labor

The exertion of mental or physical strength by humans to create goods and services.