Economy, asked by sougataind, 8 months ago

Define optimum Tariff

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Answered by Shahyashvi535

A tariff which maximizes a country's welfare, trading off improvement in the terms of trade against restriction of trade quantities. For a small economy which cannot affect world prices in the markets in which it trades, the optimum tariff is zero.

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Define optimum Tariff​

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Define optimum Tariff