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Consider the following hypothetical information to a small country's (i.e., Belgium) imports, consumption, and domestic production of computers before and after the introduction of a
Consider the following hypothetical information to a small country's (i.e., Belgium) imports, consumption, and domestic production of computers before and after the introduction of a $10 specic tariff. All other countries in the world are engaged in free trade. The maximum domestic price consumers are willing to pay is $150, and the minimum domestic price sellers are willing to accept is $80. Free Trade Protected Trade World price ($/computer) Tariff per computer Domestic Consumption (million computers/yea r) Domestic Production (million computers/yea r] Imports (million computers/yea r)
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