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Which of the following statements is TRUE regarding the loss in consumer surplus from a tariff?

Lost consumer surplus becomes producer and government welfare gain with no inefficiency.
Lost consumer surplus becomes producer and government welfare gain with some inefficiency.
Consumer surplus lost becomes deadweight or efficiency loss.
Consumer surplus becomes producer surplus exclusively when a tariff is imposed.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M955187

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