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

Question

1 year ago

9

, a tariff in the amount of $2 per unit would be expected to cause domestic consumption to:

1 answer:

nikklg [1K] · Answer 1 · 2024-09-06T02:13:01+03:00

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:

To know more about import refer to:

#SPJ4