In a situation where an artist is selling his own work to the galleries, the agent is

Why is it better to protect an infant industry with monopoly power with a tariff than a quota?

a. A tariff causes domestic production to increase, whereas a quota causes production to decrease. b. A tariff causes domestic production to decrease, whereas a quota causes domestic production to increase. c. A tariff will raise the domestic price above the world price, whereas a quota will not. d. A quota will raise the domestic price above the world price, whereas a tariff will not.

Your friend does not understand the benefits of globalization. Outline for your friend the positive economic aspects of globalization

What will be an ideal response?