Question: 4. Which statement is correct about prohibitive tariff a. It is not the most extreme form ojorotective tariff b. In a 2-goods and 2-country model,

4. Which statement is correct about prohibitive tariff a. It is not the most extreme form ojorotective tariff b. In a 2-goods and 2-country model, prohibitive tariff would eliminate both exports and imports c. prohibitive tariff cannot completely eliminate imports from foreign country d. Prohibitive tariff would increase welfare if the tariff imposing country is a small open economy

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