What is the effective rate of protection on clothing

Reference no: EM13239034

At world prices, cotton is 25% of the cost of clothing and labor and capital costs are 75%. What is the effective rate of protection on clothing if the tariff on cotton is .1 and the tariff on clothing is .4? What about .4 on cotton and .1 on clothing? Show the equation for effective rate of protection.

Reference no: EM13239034

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