Question

When a tariff is imposed on a​ foreign-produced product, domestic producers receive a​ ________ price and domestic consumers pay a​ ________ price for the product.

Answer 1

Answer: decreased , lesser .

Explanation:

Tariffs are used to restrict imports by increasing the price of goods and services purchased from another country, making them less attractive to domestic consumers . Governments may impose tariffs to raise revenue or to protect domestic industrie especially from foreign competition.