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Which of the choices describes how the effects of import tariffs and import quotas are different? - Quotas don't affect the equilibrium price, whereas tariffs
Which of the choices describes how the effects of import tariffs and import quotas are different?
- Quotas don't affect the equilibrium price, whereas tariffs don't affect the equilibrium quantity.
- Import tariffs create deadweight loss, whereas import quotas don't create deadweight loss.
- The domestic cost of an import tariff is larger than the domestic cost of a comparable import quota.
- Some foreign producers receive some of the benefits generated by an import quota.
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