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Unformatted text preview: v. Economic surplus 3. Quota a. Definition b. Effects on. .. i. Price ii. Quantity iii. Consumer surplus iv. Producer surplus v. Economic surplus c. How managed? 4. Tariffs vs. Quotas: longer term results 5. Rationales for imposing restrictions 6. Conclusions III. NEXT TIME A. Begin Chapter 10: The Logic of Individual Choice...
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