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Multiple Choice Solutions
"the same effect on domestic output as a $5 tariff". What is the effect on domestic output of a $5 tariff? Imports shrink by 20, right? If the government implemented an import quota of $20m at world price, wouldn't the effect be an increase of 20m in domestic supply?- oscartired
- Post #65
- Forum: Economics
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Multiple Choice Solutions
For question 20, I put A. Is it not the difference between WP imports (80-20=60) and the tariff of $5 (70-30=40)? = 20? It was a bit of a tricky question imo.- oscartired
- Post #63
- Forum: Economics
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