effects of an import quota and a tariff on domestic price, quantities, and well-being, for a small country producing and selling a product in a competitive world market

 Briefly discuss the similarities and differences of the effects of an import quota and a tariff on domestic price, quantities, and well-being, for a small country producing and selling a product in a competitive world market. (Assume a tariff level that would restrict imports just as much as the quota would.)

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