Would consumers benefit more from a tariff or a quota on imports? Provide one (1) supporting fact to support your response. Consider the following weekly production possibilities of gloves and hats in Panama and Russia:
Russia Panama
Gloves 20 180
Hats 80 90
What is each country's opportunity cost of producing gloves and hats? If the countries could, should they trade? Provide one (1) supporting fact to support your position.