Final answer:
A lower tariff on imported aluminum typically benefits consumers by lowering prices, but may negatively impact domestic aluminum producers. Import quotas protect domestic industries but can increase prices for consumers. The effects on the exporting country can be mixed, with producers benefiting from export prices and consumers potentially seeing lower prices.
Step-by-step explanation:
A lower tariff on imported aluminum would most likely benefit d) Consumers of aluminum products. This is because a lower tariff reduces the import costs for foreign aluminum, which can result in lower prices for consumers. Conversely, it may not benefit domestic aluminum producers since they would face stiffer competition from cheaper imported aluminum, potentially losing market share and reducing profits.
Regarding the scenario with the Land of Submarines, the imposition of an anti-dumping import quota of 30 or 70 can have different effects. An import quota limits the amount of a product that can be imported, in this case, to protect domestic industries from unfair pricing practices like dumping. If the quota is set at 30, it would be more restrictive than a quota set at 70, which could lead to higher domestic prices as the supply tightens. This situation generally benefits domestic producers as they are shielded from competition and can maintain higher prices, but it harms consumers who have to pay more.
The effects of an import quota can have mixed outcomes in the foreign country as well. Producers may receive a lower price locally but could benefit from higher export prices if they are able to sell overseas within the quota limit. However, consumers in the exporting country might experience lower prices due to increased local supply that cannot be exported because of the quota.