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Why do consumers miss an opportunity to pay lower prices on goods when a government erects trade barriers on foreign products?

This question was answered on May 18, 2010. View the Answer
Why do consumers miss an opportunity to pay lower prices on goods when a government erects trade barriers on foreign products?

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Govt.doc

Govt. can impose trade barrier mainly by two means –
i)
tariff
ii)
quota
We are considering small country.
i) Tariff:
Tariff is the tax on import. For a tariff imposed on small open economy,...

This question was asked on May 18, 2010 and answered on May 18, 2010.

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