The following question(s)refer to the figure below,which shows the effect of a country imposing a tariff on an imported product.
Figure 17-14

-Refer to Figure 17-14.The same price and quantity outcomes under the tariff above could have also been produced by the imposition of a quota of

Question

The following question(s)refer to the figure below,which shows the effect of a country imposing a tariff on an imported product.
Figure 17-14
 
-Refer to Figure 17-14.The same price and quantity outcomes under the tariff above could have also been produced by the imposition of a quota of

Quizplus · Accepted Answer

A quota of 30 units would limit the quantity of imports to the same level as the tariff, resulting in the same price increase and quantity decrease. Quotas and tariffs are two different types of trade barriers, but in this case, they would have the same effect on the market.

The Following Question(s)refer to the Figure Below,which Shows the Effect