In the following import graph, if horizontal supply line Sm shifts to horizontal line S'm because of the imposition of a tariff,
A) the situation must be one of a "large" importing country.
B) the tariff must be a specific tariff.
C) the tariff must be an ad valorem tariff.
D) the tariff can be either a specific or an ad valorem tariff.
Correct Answer:
Verified
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