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19 December, 03:15

Changes in tariffs and quotas are

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  1. 19 December, 04:00
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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.
  2. 19 December, 04:31
    0
    government actions that reduce competition from international firms.
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