Your government just imposed a 45% import tariff on a product. After investigation, you find that the
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Question:
Your government just imposed a 45% import tariff on a product. After investigation, you find that the domestic supply curve of the product is perfectly inelastic. Which one of the following goals may be achieved by this import tariff?
Select all that apply:
a.
Protecting domestic jobs in this industry
cross out
b.
Protecting domestic consumers' welfare
c.
Protecting domestic producers' welfare
d.
Protecting the domestic environment
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