(Figure: the Soybean Market) Because There Is No Government Revenue

question 142

Multiple Choice

(Figure: The Soybean Market) Because there is no government revenue as a result of the quota, one of the parties in the trade transaction makes a "return" equal to lost government revenue (P - MC) · Q_imports. This is called:

• A) a windfall profit.
• B) a quota rent.
• C) gains from trade.
• D) unearned income.

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