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Finland imports shoes into its country; they are a price taker in this market. Suppose the world price of shoes is $40. If Finland imposes
Finland imports shoes into its country; they are a price taker in this market. Suppose the world price of shoes is $40. If Finland imposes a $10 tariff on shoes, what would be the domestic price of shoes and what will happen to the quantity bought? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a The quantity bought will increase and the price will be $30. b The quantity bought will fall and the price will be $30. c The quantity bought will fall and the price will be $50. d The quantity bought will increase and the price will be $50
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