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The supply and demand curves represent the domestic market for toothpicks in this small country. The world price is $20. In terms of the price
The supply and demand curves represent the domestic market for toothpicks in this small country. The world price is $20. In terms of the price consumers face, a $10 tariff would have the same impact as: Supporting Materials / a 30 unit quota a 70 unit quota a 40 unit quota a $30 production subsidy
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