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leonid [27]
1 year ago
9

assume the foreign supply of this product is perfectly elastic at a price of $4 per unit. starting from a free trade equilibrium

, a tariff in the amount of $2 per unit would be expected to cause domestic consumption to:
Business
1 answer:
nikklg [1K]1 year ago
5 0

The per unit would be expected to cause domestic consumption to decrease.

<h3>What are Imports?</h3>
  • Bringing in from foreign or external sources. (as in goods & services. )
  • To bring into a place or country from another country. when transferring from one format to another, usually in a new file.
  • Importing and exporting goods is not only at the heart of a successful large-scale business.
  • It also helps in the growth and expansion of the national economy. Each country comes with some specific resources.
  • At the same time, the country may lack other resources to develop and improve the economy as a whole.
  • examples of imported goods are:
  1. cars
  2. tv
  3. mobiles
  4. gemstones
  5. cereals
  6. pulses
  7. oils
  8. petrol
  9. wood
  10. cloths raw materials
  11. food and vegetables
  12. gemstones
  13. mineral
  14. medicines
  15. machinery
  16. pieces of equipment
  17. luxury cars
  18. consumer goods

To know more about import refer to:

brainly.com/question/27899202

#SPJ4

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