If the import supply curve is upward-sloping: Question 37 options: a tariff or quota can increase...
If the import supply curve is upward-sloping:
Question 37 options:
|
a tariff or quota can increase domestic aggregate surplus. |
|
|
a quota can increase domestic aggregate surplus, but a tariff cannot. |
|
|
a tariff can increase domestic aggregate surplus, but a quota cannot. |
|
|
neither a tariff nor a quota can increase domestic aggregate surplus. |
Homework Answers
Answer
option 1
a tariff or quota can increase domestic aggregate surplus
The import supply curve is upward sloping means the tariff revenue or quota rent is higher than the deadweight loss of the tariff or quota so it increases aggregate surplus.
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