A country has a small share of the world import market

Reference no: EM13747166

a) Give three reasons why a government might impose tariffs on imports of agri-food products.

b) A country has a small share of the world import market for beef and has been importing the product under free trade conditions. This country's government now imposes a specific tariff on those beef imports. Draw a suitable diagram to show what happens to the price of beef in that country and the volume of imports when the tariff is levied.

c) Present the welfare changes associated with the situation described in part

Reference no: EM13747166

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