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The equivalence between the effects of a tariff and a quota...

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Business Environment and International Business
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The equivalence between the effects of a tariff and a quota which limits imports by the same amount depends on the assumption that
(1) There are comparative conditions prevailing abroad
(2) There is perfect competitive among quota holders
(3) There is free competition within the domestic import competing industry
Which of the above statements is correct?

Answer & Solution
Correct Answer: Option A
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