If a nation fitting the criteria for the large natio... - Solved MCQs & Answer

1192EconomicsMedium

If a nation fitting the criteria for the large nation model imposes an import tariff?

AThe domestic price of the product will increase by the same amount as the tariff

BNone of the above

CThe domestic price of the product will increase by less than the tariff

Dthe domestic price of the product will increase by more than the tariff itself

Correct answer

C. The domestic price of the product will increase by less than the tariff

Explanation

The correct answer is The domestic price of the product will increase by less than the tariff.

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