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    From the Work It Out "Effects of Trade Barriers," you can see that a tariff raises the price of imports. What is interesting is that the price rises by less than the amount of the tariff. Who pays the rest of the tariff amount? Can you show this graphically?

    The course author didn't provide an answer for this question

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Questions & Answers

please 7 implications of Lionel Robbins definition of economics
Amaka Reply
Problem of economics to the society
Gmzaeeyan Reply
Within 1 or 2 percentage points, what has the U.S. inflation rate been during the last 20 years? Draw a graph to show the data.
Daphne Reply
law of demand is explaining why the demand curve is downward sloping
Tan Reply
the graph would be x axis is quantity and y axis is price, as the price is expensive, there would be less demand therefore less quantity anf vice versa, thats why demand curve is downward sloping
Tan
and*
Tan
problems of economic to the society
onalaja Reply
Income Price Taste of the commodity
Ubani Reply
what are the basic economic concept
charls Reply
state any two factors which might influence the spending patterns of consumers
Nelao Reply
in a graphical way suppose the total demand for rice and total supply of rice per month
precious Reply
it helps government, individual to allocate their scare resources
Amure Reply
if the demand for one commodity excludes another, it is sad to be
Amure
what is this Means of economics
Abubakar Reply
explain the law of diminishing marginal utility
Deborah Reply
law of the state that(all things been equal the higher the price the lower the quantity demanded, the lower the price the higher the quantity demanded. kayode
waheed Reply
I mean law of demad
waheed
How do you compute GDP at factor cost?
Seyi Reply
ad-as approach
Dhananjay Reply

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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