Answer:
<u>The correct answer is C: producer's surplus increases and total surplus decreases in the market for that good</u>. The tariff translates into higher prices on the imported good, which reduces the quantity demanded. Therefore, the total surplus in the market for that good decreases. <u>Domestic production, in turn, will also expand, meaning an increase in producer's surplus. </u>
Explanation:
A tariff hike increases the price of a particular product, and this reduces the quantity demanded while encouraging domestic producers to increase output. <u>In the short run, however, price levels will be higher overall, </u>as domestic producers won't be able to supply the market at the pre-tariff prices. <u>Higher prices reduce total demand, thus decreasing total surplus in the market, but will also benefit local producers, as demand will shift to domestic production due to higher import prices. </u>
Answer:
i just got this link check if it is the correct link for your answer
Explanation:
https://openjicareport.jica.go.jp/pdf/12112280_02.pdf
Answer:
we can also say mukhiya who are head of any group or committee .
Answer:
supply
Explanation:
if a person has a product and he/she is running out he/she will raise the price since more people want more,bt he/she is running out
PRICE AND DEMAND!!
