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Kenley Booker
Business
15 May, 02:41
Changes in tariffs and quotas are
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Johnny Graves
15 May, 02:54
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government actions that reduce competition from international firms.
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Kenley Ellis
15 May, 03:01
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With the effect of the tariff, consumer surplus goes down while the producer's surplus goes up. On the other hand, quota results in the fall of consumer surplus. Income generated from the collection of the tariff is the revenue of the government.
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