Compared to a tariff, an import quota, which restricts imports to ...

[Frost2351]

Compared to a tariff, an import quota, which restricts imports to the same amount as the tariff, will leave the country as a whole
 
  A) worse off than a comparable tariff.
  B) not as bad off as a comparable tariff.
  C) about the same as a comparable tariff.
  D) Any of the above can be true.

Question 2

A price taker is
 
  A) a firm that accepts different prices from different customers.
  B) a consumer who accepts different prices from different firms.
  C) a perfectly competitive firm.
  D) a firm that cannot influence the market price.
  E) both C and D

[kusterl]

Answer to Question 1

A

Answer to Question 2

E

[Frost2351]

Gracias!

[bdobbins]

TYSM