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turkey is an importer of wheat. the world price of a bushel of wheat is $7. turkey imposes a $3-per-bushel tariff on wheat. turkey is a price-taker in the wheat market. as a result of the tariff,
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turkey is an importer of wheat. the world price of a bushel of wheat is $7. turkey imposes a $3-per-bushel tariff on wheat. turkey is a price-taker in the wheat market. as a result of the tariff,

User Altovise
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13 votes
The overall effect is a reduction in imports, increased domestic production, and higher consumer prices.
User Seabizkit
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