Calculate the rate of effective protection when t (the nominal tariff on the final commodity) is 40

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Calculate the rate of effective protection when t (the nominal tariff on the final commodity) is 40 percent, ai (the ratio of the cost of the imported input to the price of the final commodity in the absence of tariffs) is 0.5, and ti (the nominal tariff on the imported input) is 40 percent.
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International Economics

ISBN: 978-1119915737

11th edition

Authors: Dominick Salvatore

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