Appropriate diagrammatic analysis

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Suppose that EU imports of a food item from country A are regulated by means of a quota. Using appropriate diagrammatic analysis explain the welfare implications to EU from:

(a) an increase in import quota that is decided in an attempt to improve the political relations with country A and

(b) a decrease in import quota that prohibits completely imports from country A because of a health disease in this country

Reference no: EM13903626

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