Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please explain. thank you. Your answers to those questions must come from two perspective: One for a pro protectionism perspective and one for against. You

please explain. thank you.

image text in transcribed
Your answers to those questions must come from two perspective: One for a pro protectionism perspective and one for against. You must image how a pro protectionist would answer the question and again think how a person against protectionism would answer the same question. 4. The costs of protectionism are paid by consumers in the form of higher prices. Before the Rice Tariffication Law, the price of domestically produced rice is 34 pesos/kg on average compared to for example in Vietnam where the average price of rice is 27 pesos/kg (measured in terms of Philippine Peso) (PhilRice, n.d.). If for example consumers pay a total (by paying higher rice prices) of Php1,000,000 extra to save 100 jobs in rice farming, then the cost of saving each job is PhP10,000. The obvious question is at what point do these costs exceed the benefits? In your opinion, how much extra should consumers pay to keep a job in rice farming? (Express this figure in peso/per job.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: David Colander

7th Edition

0073402869, 9780073402864

More Books

Students also viewed these Economics questions

Question

Are there values of r and s for which 02+3 1 2 0 1000

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago