In the case of a small country, consumer surplus
A) decreases less with a tariff than with an equivalent quota.
B) decreases less with a quota than with an equivalent tariff.
C) decreases the same with tariffs and equivalent quotas.
D) increases more with quotas.
C
Economics
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A perfectly elastic demand curve is
a. a vertical straight line b. a horizontal straight line c. a downward-sloping straight line d. an upward-sloping straight line e. not a straight line
Economics
A lower marginal propensity to consume is most likely to result in a(n): a. flatter aggregate expenditure line
b. steeper aggregate expenditure line. c. upward shift of the aggregate expenditure line. d. downward shift of the aggregate expenditure line.
Economics