A Country Can Actually Improve Its Well-Being If It Is

Essay

A country can actually improve its well-being if it is in a position to impose a non-zero "optimal tariff". Explain what an optimal tariff is, what conditions must be in place in order to implement an optimal tariff, and how such a tariff will increase national welfare. Assuming a country could impose an optimal tariff, would you suggest it do so? Justify your answer.