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Mercuria is a producer and an importer of steel. What will happen if Mercuria's government imposes an import tariff on steel that is above the
Mercuria is a producer and an importer of steel. What will happen if Mercuria's government imposes an import tariff on steel that is above the world price?
There will be an increase in consumer surplus for domestic consumers.
There will be an increase in imports.
The domestic consumption of steel will increase.
There will be an increase in domestic producer surplus.
There will be no deadweight loss.
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