What do define optimum Tarif
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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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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 in trades,the optimum tariff zero.
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