The diagram below shows the demand and supply curves for refrigerators in Canada. 
FIGURE 33-1
-Refer to Figure 33-1.If we compare the effect of an import tariff with the effect of an import quota in this market,both of which cause the Canadian price to increase by the same amount,the major difference between the two policies is
Definitions:
Process Costing
A costing system used in situations where a single, homogeneous product (such as cement or flour) is produced for long periods of time.
Weighted-Average Method
A cost accounting method that calculates the cost of goods sold and ending inventory based on the weighted average of all costs of goods available for sale.
Process Costing System
A method of accounting used to track and allocate costs associated with a continuous manufacturing process, suitable for homogeneous products.
Weighted-Average Method
A costing method that calculates the cost of goods sold and ending inventory based on the average cost of all goods available for sale during the period.
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