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Given the following information for industry X in country A, and assuming that input Y is imported, that one unit of Y is required for

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Given the following information for industry X in country A, and assuming that input Y is imported, that one unit of Y is required for each unit of X, and that country A is a "small" country: free trade price $100 $80 nominal tariff rate 20% final product X input Y (only input to X) The effective rate of protection (ERP), or "effective tariff rate," for industry X is 15% percent. However, if the nominal tariff rate on input Y is eliminated (i.e., the percent. 15% rate becomes 0%), the ERP for industry X would become A) 40; 100 B) 17; 25 C) 40; 20 D) 35; 25

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