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Explain the concept of an infant industry and why governments may protect it with a tariff. What conditions must be true for this protection to

Explain the concept of an infant industry and why governments may protect it with a tariff. What conditions must be true for this protection to result in a welfare gain for the economy over time? How successful do such attempts seem to be in developing countries and what problems make it difficult to achieve success?

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Infant Industries and Tariffs Concept An infant industry is a new industry in a developing country that has the potential to become competitive in the global market but currently lacks the necessary e... blur-text-image

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