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Question 29 Economic theory in general, and trade theory in particular are replete with Not yet equivalences. For example, it is argued that for any specific tariff one can answered find an equivalent ad valorem tariff; and that for any quota one can Marked out of calculate a tariff equivalent. Discuss conditions or situations under which a 3.00 specific and an ad valorem tariff are not equivalent. Discuss conditions or Flag question situations when a tariff and a quota are not equivalent. 1 A v B E# S.5 A