Question 14 Assume the U.S. has a competitive advantage in producing calculators, while the rest of the world has a competitive advantage in steel. Suppose the U.S. and the rest of the world enter into an agreement to lower import quotas below existing levels on calculators and steel. Which of the following would least likely occur for the U.S.? Rising levels of consumer surplus for American buyers of steel B) producer surplus for American steelmakers production in the American calculator industry 5 Points producer surplus for American calculator producers