If Canada, a small country in global markets, imposes a 15 percent tariff on a specific commodity, it will cause

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A 15 percent tariff on a specific commodity in Canada will increase the price of the commodity for consumers, which will lead to a reduction in the consumption of the commodity in the country. This reduction in demand will result in a decrease in the quantity imported of the commodity. A reduction in tariff revenue collected by the Canadian government is possible if the reduction in demand for the commodity is significant enough to offset the revenue generated by the tariff. However, this is not a guaranteed outcome. The price paid by consumers may decrease in the case of an oversupply, but this would not be the likely outcome of a 15 percent tariff. An upward shift in the commodity's demand curve is not likely to occur in response to a tariff.

If Canada, a Small Country in Global Markets, Imposes a 15