Suppose that it take 100000 of steel to produce 2000000 of


Suppose that it take $100,000 of steel to produce $2,000,000 of cars. If the nominal tariff on steel is 10% for the steel and 20%for cars, what is the effective rate of protection for the steel industry?

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Business Economics: Suppose that it take 100000 of steel to produce 2000000 of
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