=+*6. An increased scarcity of a product benefits produc- ers and harms consumers. In effect, tariffs and
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=+*6. "An increased scarcity of a product benefits produc- ers and harms consumers. In effect, tariffs and other trade restrictions increase the domestic scarcity of products by reducing the supply from abroad. Such policies benefit domestic producers of the restricted product at the expense of domestic consumers." Evaluate this statement.
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Related Book For
Microeconomics Private And Public Choice
ISBN: 9780324320367
11th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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