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If an Import-Competing Firm Is Imperfectly Competitive,then Under Free Trade

question 57

Multiple Choice

If an import-competing firm is imperfectly competitive,then under free trade an export tariff will ________ domestic market price,________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.


Definitions:

Resistance to Change

The reluctance or opposition to adapt to new methods, processes, or changes within an organization or personal life.

Boiled Frog Syndrome

A metaphor for the failure to react to significant changes that occur gradually.

Familiarity

The comprehensive knowledge of someone or something due to extensive experience or close association.

Comfort Level

An individual's state of physical or psychological ease, often characterized by a lack of hardship or distress, and including feeling secure, safe, and untroubled in a particular situation or environment.

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