If the world price of steel is $500 a ton a specific tariff of $50 is equivalent to an ad valorem tariff of
Options:
| a. 5 percent b. 10 percent c. 15 percent d. 20 percent |
The Correct Answer Is:
- b. 10 percent
If the world price of steel is $500 a ton a specific tariff of $50 is equivalent to an ad valorem tariff of
