Explain, in words, the effects of imposition of a quota by a small country under competitive conditions. Assume that the
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Explain, in words, the effects of imposition of a quota by a small country under competitive conditions. Assume that the
Explain, in words, the effects ofimposition of a quota by a small country under competitiveconditions. Assume that the quota rights are given away for free toa fixed set of import distributor firms in the country.