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Key difference in the welfare outcomes

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A government can impose an import quota or an equivalent tariff that lead to the same level of imports. What is the key difference in the welfare outcomes of these two policy options?

A. Foreign suppliers are better off under a quota system.

B. The domestic price is higher under the equivalent tariff policy.

C. The domestic price is lower under the equivalent tariff policy.

D. The government raises revenue by imposing a quota but not a tariff.

Reference no: EM132499878

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