Suppose Canada imposes a 20% tariff on imported textiles.Which of the following will occur?
1) an increase in producer surplus for Canadian textile producers
2) a reduction in the quantity of textiles imported
3) a reduction in the consumption of textiles in Canada
A) 1 only
B) 2 only
C) 3 only
D) 1,2,and 3
E) 2 and 3
Correct Answer:
Verified
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A)a
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