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In economic terms, tariffs are preferred to quotas because: A) domestic manufacturers gain more producer surplus. B) there is less loss of consumer surplus. C) tariffs are easier to administer.

In economic terms, tariffs are preferred to quotas because:
 
A) domestic manufacturers gain more producer surplus. 
B) there is less loss of consumer surplus.
C) tariffs are easier to administer.
D) quotas create a greater production inefficiency.
E) given the way quotas are usually administered, tariffs cause a smaller net national welfare loss.

Jun 11 2021 View more View Less

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