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A country's overall welfare effect of an import tariff will come down to... a. Production market distortion + consumption market distortion - change in the
A country's overall welfare effect of an import tariff will come down to...
a.
Production market distortion + consumption market distortion - change in the terms of trade
b.
Production market distortion + consumption market distortion + change in the terms of trade
c.
Government revenue - the production market distortion + change in the terms of trade
d.
Change in the terms of trade - production market distortion - consumption market distortion
e.
The difference between consumer surplus and producer surplus
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