The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-Generally speaking, protection from foreign competition benefits:

Question

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5
 
-Generally speaking, protection from foreign competition benefits:

Quizplus · Accepted Answer

When protection is imposed, domestic producers are shielded from foreign competition and can sell their goods at higher prices. This benefits domestic producers but makes goods more expensive for domestic consumers, who then have fewer dollars to spend on other goods and services. Therefore, domestic producers benefit at the expense of domestic consumers. Foreign producers may be hurt if they are blocked from selling goods in the domestic market.

The Table Below Shows the Quantity Demanded (In Thousands) and Quantity