Economics · International Trade
An optimum tariff is defined as that tariff rate which:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Maximizes the total fiscal revenue earned by the government from tariffs
- 2Maximizes the imposing country's economic welfare by improving its terms of trade✓
- 3Maximizes the absolute gross volume of a country's foreign trade
- 4Completely minimizes or prohibits imports
Correct answer
Maximizes the imposing country's economic welfare by improving its terms of trade
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