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    All of the economic implications of a tariff are due to two of its properties. What are they?

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    All of the economic implications of a tariff are due to two of its properties. What are they?

    The first property of tariff is that it increases costs. In other words when tariffs are imposed by a country it provides protection to the local industry. There is reduced competition and this causes the prices of the product to ...

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    This explanation provides you a comprehensive argument relating to implications of a tariff.

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