A tariff is a tax that a nation charges its imports. Imported goods become more expensive on the domestic market as a result. To shield domestic businesses from foreign competitors, it is a restrictive trade practice.
The answer is option b because the lump-sum tariff raises the average cost curves of foreign businesses.
A tariff is a tax that a government places on goods and services that are imported from other countries. This tax raises the price of the goods and services and makes them less desirable or, at the very least, less competitive with goods and services made in the country.
The French word for tariff is the same as the English one: tarif, or '' set price, which is an Italian ancestor in and of itself: tariffa, meaning' imposed cost; the Medieval Latin "schedule of taxes and customs": tariffe, or "'" set cost'.
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