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olchik [2.2K]
3 years ago
5

Assume the small-country model is applicable. If the world price of the product is $6 and a tariff of $1 per unit is applied to

imports of the product, then the total revenue (after tariff) going to domestic producers would be ________ and the total revenue (after tariff) going to foreign producers would be ________.
Business
1 answer:
Galina-37 [17]3 years ago
5 0

Answer:

$11,200, $2,400

Explanation:

Assume the small-country model is applicable. If the world price of the product is $6 and a tariff of $1 per unit is applied to imports of the product, then the total revenue (after tariff) going to domestic producers would be $11,200, and the total revenue (after tariff) going to foreign producers would be $2,400

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