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5.An “optimal” tariff is most likely to apply to:a. A small tariff imposed by a small country.b. A small tariff imposed by a large country.c. A large tariff imposed by a small country.d. A large tariff imposed by a large country.
6.The terms of trade is given by the prices:
7.The effective rate of protection
8.If a country imposes an import tariff, its welfare can improve if