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Author Question: The welfare loss from an import quota is greater than that of an equivalent tariff because A) ... (Read 120 times)

Sufayan.ah

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on: Jul 1, 2018
The welfare loss from an import quota is greater than that of an equivalent tariff because
 
  A) tariff revenues can be used to society's benefit.
  B) the loss in consumer surplus is not as large.
  C) domestic producers gain more from a quota than from a tariff.
  D) tariff revenues represent an additional deadweight loss.

Question 2

Tariffs and quotas create a loss in social welfare because
 
  A) producer surplus declines.
  B) revenues from tariffs are misspent.
  C) consumer surplus declines.
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
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jharrington11

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


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