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[–] 1 point 1 year ago (1 child)

I dont want to sound condescending but this is pretty simple economics.

If you tax imports then vendors of local products will increase prices to match the imported goods.

The market for local beef is an oligopoly with only a few buyers, so it's easy for them to manipulate the price.

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  • [–] 1 point 1 year ago

    The market for local beef is an oligopoly with only a few buyers, so it’s easy for them to manipulate the price

    That's an oligopsony, not an oligopoly which would have only a few sellers.

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