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Indicate a reasons for why a government would justify using a tariff. Also, explain the impact that a tariff has on each of the following:
Indicate a reasons for why a government would justify using a tariff. Also, explain the impact that a tariff has on each of the following:
- Foreign producers of the good being protected
- Domestic producers of the good being protected
- Domestic consumers of the good being protected
- Domestic producers of goods that are exported
- Government in the domestic economy
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