Question: 1. When import barriers are legislated, explain what happens to the producer surplus, the consumer surplus, and the deadweight loss. 2. If subjected to a

1. When import barriers are legislated, explain what happens to the producer surplus, the consumer surplus, and the deadweight loss.
2. If subjected to a referendum vote why would most import barriers be eliminated?
3. Who bears the cost of import barriers protecting a job where the industry employing labor does not have or has lost its comparative advantage? Consider the recent use of tariffs on imports of steel into the U.S.

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