Tariffs and quotas are costly to consumers
Tariffs and quotas are costly to consumers because:
The price of the imported good falls
The supply of the imported good increases
Import competition increases for domestic goods
Consumers have to switch to higher-priced domestic goods
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1 a maximum limit set on the amount of a specific good that may be imported into a country over a given period of time
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tariffs and quotas are costly to consumers because the price of the imported good falls the supply of the imported good
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