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Calculate the erp effective rate of protection

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V Given that it takes 5 yards of textile to make a suit whose free trade price is $150.00 and whose textile sells for $20.00 per yard. Calculate (i) the ERP (effective rate of protection) if government is to impose a $30.00 tariff per suit and (ii) what happens to the ERP once a 40% tariff on textiles is added to the tariff structure.( i.e. government imposes $30 duty per suit plus a 40% on textile)

Reference no: EM13553541

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