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A ban on imports, a tariff, or a quota raise the price to domestic consumers. This means that consumers will buy less of the product
A ban on imports, a tariff, or a quota raise the price to domestic consumers. This means that consumers will buy less of the product at a higher price. The loss associated with this is called _____.
a) production associated loss
b) deadweight loss
c) trade loss
d) barrier associated loss
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