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A Quota Brings a More Serious Misallocation of Resources Than

question 28

True/False

A quota brings a more serious misallocation of resources than a tariff.


Definitions:

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer derives from acquiring or consuming one more unit of a good or service.

Cowboy Boots

A style of riding boot historically worn by cowboys, characterized by a high heel, pointed toe, and often decorative stitching.

Nikes

A global brand known for designing, manufacturing, and marketing athletic footwear, apparel, equipment, and accessories.

Marginal Utility

The additional satisfaction or utility gained by consuming an additional unit of a good or service.

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