Explain why trade increases total surplus. In your analysis, show how this true from both importing and exporting goods and services. Please be thorough.

Q: Please match the five forces that sh Firms must buy the inputs for a good. 0 pot ********* Div ca…

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Q: Consider a monopolistically competitive firm that faces demand curve P=160-3Q and total cost curve…

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Q: Suppose that Comcast has a cable monopoly in Philadelphia. The following table gives Comcast's…

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Q: Unit of Labor 0 1 2 3 4 5 6 Total Product 0 15 28 39 48 55 60 Product Price $ 2.20 2.0 1.80 1.60…

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Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.