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What possible benefit can a domestic manufacturer get if the government increases import duty?

Answer and explanation

Correct answer: Demand for domestic goods may rise as foreign goods become costlier

Import duty can increase the price of foreign goods. In exams, link duty with government trade policy.

Related tags

Business-EnvironmentPolitical-EnvironmentClass-12MediumPolitical EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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