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    Microeconomics Study Set 49
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    Exam 10: Competitive Markets: Applications
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    In a Perfectly Competitive Market, Import Quotas and Tariffs Tend
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In a Perfectly Competitive Market, Import Quotas and Tariffs Tend

Question 8

Question 8

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In a perfectly competitive market, import quotas and tariffs tend to lead to higher domestic prices and deadweight loss.

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