Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 24 - International Trade - Review Questions: 13

Answer

The answer is below.

Work Step by Step

Quotas hurt larger producers a lot. After all, by banning their influence on the market, it can impact these companies more than tariffs, for tariffs often just reduce the revenue the company brings in.
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