Multiple Choice
In the diagram in Question #8 above, suppose that country A, from this initial situation Where its tariff is applied to both countries B and C, now forms a customs union with Country B. The "net welfare effect" on country A from the formation of this customs Union with country B would be __________.
A) areas (a + b +C) minus area f
B) areas (a +C) minus area f
C) areas (a + C) minus areas (b +F)
D) areas (a + c + d + e + g + h) minus area f
Correct Answer:
Verified
Correct Answer:
Verified
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