1.Tariffs on Computer Chips. Suppose a country imposed tariffs on computer chips to protect its chip-making industries. What other types of firms in that economy might object to this policy? 2....

1.Tariffs on Computer Chips. Suppose a country imposed tariffs on computer chips to protect its chip-making industries. What other types of firms in that economy might object to this policy?

2. Tariffs and the Poor. Historically, apparel and textiles were subject to high tariffs. Explain why this might hurt low-income consumers more than high-income consumers. (Related to Application 1 on page 399.)