Answer to Question #65479 in Other Economics for saeed

Question #65479
Which of the following is correct based on a partial equilibrium model of trade? Question options: 1) A small country always loses by imposing a tariff 2) A large country always loses by imposing a tariff 3) A large country always gains by imposing a tariff. 4) A small country always gains by imposing a tariff. Referring to the above Figure, the impact of the tariff on domestic producer surplus is a __________ measured by area __________. Question options: 1) Gain; a 2) Loss; a 3) Gain; (a+b) 4) Loss; (a+b)
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Expert's answer
2017-02-23T11:07:05-0500
Which of the following is correct based on a partial equilibrium model of trade?
1) A small country always loses by imposing a tariff

Referring to the above Figure, the impact of the tariff on domestic producer surplus is a __________ measured by area __________.
4) Loss; (a+b)

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