Would the burden off the consumers cause a greater increase

Reference no: EM13205471

the rice producers would be worse off, however does the welfare increase or decrease? IT would place more of a burden on the producers in the short run as frictional unemployment would result, but it would also take a heavy burden off the consumers purchasing the rice. Would the burden off the consumers cause a greater increase in net welfare, or would the frictional unemployment cause the net welfare to decrease?

The Japanese restrict foreign imports of rice into their country. If the restrictions were removed, Japanese rice producers would be _________ and there would be an overall net _______ in net welfare in Japan.

Reference no: EM13205471

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