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Price-Quantity Effects of Protective Tariffs
Draw a domestic supply and demand diagrams for a product in which the United States does not have a comparative advantage. What impact do foreign imports have on domestic price and quantity? On your diagram show a protective tariff that eliminates approximately one-half of the assumed imports. What are the price-quantity effects of this tariff on (a) domestic consumers, (b) domestic product?
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Business if it was done by trade associations, certifications, and professional societies.
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Given that this is a training manual to sensitize employees, how will this affect any practices at the company.
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