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Australia Is an Importer of Computer Chips and Is Also

Question 155

Multiple Choice

Australia is an importer of computer chips and is also a price taker in the chip market.The world price of these computer chips is $25.If Australia imposes a $5 tariff on chips,who will gain


A) Consumers and producers will both gain.
B) Consumers and producers will both lose.
C) Consumers will gain, and producers will lose.
D) Consumers will lose, and producers will gain.

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