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Compared to free trade, the introduction of a quota will:

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Joshua Stredder
Joshua StredderLv10
31 Mar 2021
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Related questions

c. The first policy is to impose a quota on production of 80 million bottles per month. What would happen to the market price? Calculate the change in income of producing alcohol brought about by the introduction of the quota system. Does income of producing alcohol increase or decrease as a result of the quota. Illustrate your results using the diagram. [10 marks]

Distinguish between the following terms

a) Direct subsidues vs. Indirect subsidies

b) Auction method quota allocation vs. Rent-seeking method quota allocation

c) Safeguard import Tariff vs. Import tariff

d) Anti-dumping duties vs. Countervailing duties

e) Trade creation vs. Trade diversion

Compare and Contrast an import quota and a tariff-rate quota (TRQ)in terms of how each one will impact exports, imports, prices,production, consumption and world trade using a THREE PANELDIAGRAM.

(Be sure to label the axes, supply and demand functions and allother parts of the diagram.)

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