October, 2022--Biden restricts US companies from helping China make semiconductor chips The Biden administration has imposed regulatory restrictions on semiconductors manufactured in China by U.S. companies. The administration's controversial plan bans U.S. companies from helping China manufacture advanced semiconductor chips used in military equipment that U.S. officials worry could be used against America. The President said: "We have to protect the American people against China. Period. Full stop." The administration has also called on U.S. allies to issue similar restrictions. 1A. Construct the market for semiconductors made in China by US companies, labeling initial supply and demand and equilibrium price and quantity with the subscript "1" 18. Make changes to the market in 1A consistent with information in the article, labeling new supply and demand and equilibrium price and quantity with the subscript "2" 1C. Below the market, give an economic justification for the protection policy. 1D. Construct the market for domestically produced goods in the US that use semiconductors, labeling initial supply and demand and equilibrium price and quantity with the subscript "1" 1E. Make changes to the market 1D consistent with information in the article, labeling new supply and demand and equilibrium price and quantity with the subscript "2". 1F. Below the market, give an economic reason for changes in the market.