A key difference between tariffs and quotas is that

Question

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Tariffs are taxes imposed on imported goods, and the revenue from these taxes goes to the government of the country that imposed them. Quotas, on the other hand, limit the quantity of imports and are often allocated to specific importers or countries. Importers of goods subject to quotas may be able to charge a higher price for their goods since they have exclusive access to the limited supply, allowing them to retain this added revenue.

A Key Difference Between Tariffs and Quotas Is That