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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 26

7.4 Trade, tariffs and quotas

One idea · follow the reasoning · then practise1 / 9

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How do an equivalent tariff and quota differ in who receives the rent?

Market stalls send goods toward a central stall beside a harbor with a checkpoint, coins, and cargo boats
VISUAL NOTE · Competitive markets Trade reshuffles gains and losses

Cheap imports benefit buyers but hurt domestic producers. What happens overall?