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Solution: With a 20% tariff, HP is able to sell the audio recorder at the price $200* (1 +20%) = $240. Hence, the domestic value

Solution: With a 20% tariff, HP is able to sell the audio recorder at the price $200* (1 +20%) = $240. Hence, the domestic value added by HP is $240 - $120 = $120. Hence, choice B is the correct answer. (Chapter 6)

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