Question

In: Economics

Suppose a country removed tariffs, what would the graph look like?

Suppose a country removed tariffs, what would the graph look like?

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Expert Solution

Explanation - Tariff refers to the taxes imposed by the government on imports. When a country removed tariffs then it will increase the imports and consumer surplus. Removable of taxes is not beneficial for the producers as it decreases the producer's surplus.

Rahul Sunny answered 3 years ago
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