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Discuss the differential effects of these two policies

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Tariffs and quotas can be used to achieve similar ends. In fact, for any given quota, there is an equivalent tariff that will limit imports to exactly the same amount. Still, there are differences between quotas and tariffs. Discuss the differential effects of these two policies in terms of who are the winners and losers for each and how surpluses and revenuesare affected.

Reference no: EM13692572

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