hannichoy3 hannichoy3
  • 13-12-2020
  • Business
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Explain the effect of a tariff on consumer surplus and producer surplus.

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adyanf882
adyanf882 adyanf882
  • 13-12-2020
The increase in the domestic price of both imported goods and the domestic substitutes reduces the amount of consumer surplus in the market. Tariff effects on the importing country's producers. ... The increase in the price of their product on the domestic market increases producer surplus in the industry.
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