Specific Tariffs Are

question 108

Multiple Choice

Specific tariffs are

• A) levied as a proportion of the value of the imported good.
• B) government payment to domestic producers.
• C) in the form of manufacturing or production requirements of goods.
• D) levied as a fixed charge for each unit of a good imported.

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Definitions:

HHI

The Herfindahl-Hirschman Index, a measure of market concentration to assess the competition level among firms.

Identical Firms

Companies that produce the same products or services, have the same production techniques, and face the same costs and market conditions.

Unconcentrated

Describes a market structure with many competitors, none of which have a significant share of the market.

Collude

When two or more firms secretly agree to work together, often to set prices or market shares, in a way that distorts competition.