Import Quota vs Tariff: The Quota Rent and Who Keeps It
This lesson is part of the course
In this lesson
You replace the tariff with an import quota, find the domestic price it creates and the equivalent tariff, value the quota rent and compare the national loss for three ways of handing out import licences.
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Lessons in this course
- Opportunity Cost: Absolute vs Comparative Advantage Locked
- Production Possibilities & the Gains from Specialisation Locked
- Terms of Trade: The Feasible Range & Who Gets the Gains Locked
- A Small Open Economy at the World Price: Imports or Exports? Locked
- A Tariff in Numbers: Surplus, Revenue & Deadweight Loss Locked
- Import Quota vs Tariff: The Quota Rent and Who Keeps It Locked
- The Balance of Payments & the Savings–Investment Check Locked
- A Trade-Weighted Exchange-Rate Index & Competitiveness Locked