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If the world price of good x is $10k and the domestic producer uses only imported components with a total cost of $6k. Tariffs on
If the world price of good x is $10k and the domestic producer uses only imported components with a total cost of $6k. Tariffs on imported components is 10% and tariffs on good x is 20%. Compare and contrast ERP and NRP. Please show and explain which is greater and why.
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