22 Explain how the tariff on textiles will change the price that EU buyers pay for textiles,...

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22 Explain how the tariff on textiles will change the price that EU buyers pay for textiles, the quantity of textiles imported, and the quantity of textiles produced in the EU. Suppose that in response to huge job losses in the EU textile industry, the EU imposes a 100 per cent tariff on imports of textiles from China.

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