What are the implications of Production Abroad to producers and consumers here in US?
What are the implications of Production Abroad to producers and consumers here in US?
Homework Answers
Production abroad and bringing the goods back to the US for consumption will increase the consumer surplus in the US and reduce the producer surplus.
We are assuming only those goods are produced abroad that can be produced cheaply and that will allow the firms to benefit from the lower cost of production in those nations and make goods cheaper, this will increase the consumption in the local market as price are lower and increase the surplus, but as the local producers will be loosing in their production there surplus will be lost.
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What are the implications of Production Abroad to producers and
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