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Don't Increase Tariff B. (-5. 1) D. (2. 2) (Don't Increase, Don't Increase) (Increase, Don't Increase) (Increase, Increase) (Increase, Don't Increase)Given the following strategy profile and payoff matrix, what's the Nash Equilibrium of this game? for a payoff (x. y), x represents the return to the US, and y is the return to China US (left)/ Increase China(right) Don't Increase Tariff Tariff Strategy Profile Increase Tariff A. (-2,-2) C. (1, -5) Don't Increase Tariff B. (-5, 1) D. (2, 2) (Don't Increase, Don't Increase) (Increase. Don't Increase) (Increase, Increase)There are 43 questions in total. Budget your time wisely! Which of the following is a potential cost of protectionism? Protectionism leads to retaliation and therefore higher import prices and higher consumer prices. Consumers will have to pay higher prices for imports of goods (e.g. electronic goods from China, food from Africa) Higher prices lead to lower overall demand causing job losses in other industries All the others. O Exporters will see a fall in demand, causing less output and possibly unemploymentIn the case of a small country, producer surplus & increases more with a export subsidy than with an equivalent tariff. increases the same amount with tariffs. is not changed by tariffs or quotas. O increases more with a tariff than export subsidies.Question 14 If the price of a good rise, then the effect on the income of the factors that are ined internively in its production will be to raise income by a greater percentage than the rise in prices. to raise income by a small percentage than the rise in prices. to raise income by an absolute amount that is more than the rise in prices. O to raise income by an absolute amount that is less than the rise in prices.Quiz Instructions There are 43 questions in total. Budget your time wisely! Question 15 2 pts Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then according to the Stolper - Samuelson Theorem, the incomes of the owners of are likely to rise in Brazil after trade with Chile begins natural resources It is impossible to determine which will be favored labor capital Not save