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(a)TheactualeffectsoftheMFAaredescribedforvariouscountriesabove.UsesupplyanddemanddiagramstoshowtheeffectsofsuchquotasonthedevelopedworldmarketsandalsotheLessDevelopedCountry(LDC)markets(2diagramsneeded). Showonthesediagrams:whogainedandwholostfromtheMFAquotas;andwhowouldgainfromtheirremoval. (b)Imaginethatinsteadofthequotawas imposedin1974,theyimposedanequivalenttariff.Analyze thedifferenceswouldthe imposition of the tariff hasmade. Usingthediagramsfromthefirstpartofthecasestudy (question (a)),explainthe effectswhenthequotaswereremovedandthenre-imposed

(a)TheactualeffectsoftheMFAaredescribedforvariouscountriesabove.UsesupplyanddemanddiagramstoshowtheeffectsofsuchquotasonthedevelopedworldmarketsandalsotheLessDevelopedCountry(LDC)markets(2diagramsneeded). Showonthesediagrams:whogainedandwholostfromtheMFAquotas;andwhowouldgainfromtheirremoval.

(b)Imaginethatinsteadofthequotawas imposedin1974,theyimposedanequivalenttariff.Analyze thedifferenceswouldthe imposition of the tariff hasmade.

Usingthediagramsfromthefirstpartofthecasestudy (question (a)),explainthe effectswhenthequotaswereremovedandthenre-imposed

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