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
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Assume the small-country model is applicable. if the world price of the product is $6 and a tariff o...
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