Section A (65 marks)
Answer all questions in this section.
Question 1
State your word count where applicable

Suppose a small country, Country X, decides to impose a quota on fossil fuel imports to meet net zero carbon emissions targets.
Question 1a
Analyze the economic impacts and welfare changes with diagrams.
How does this differ if Country X is a large country?

(Note: There is no need for numerical illustrations here. In other words, exact numbers are not required.) (Word limit: 450 words)
(25 marks)

Question 1b
In relation to this case of fossil fuel imports, do you think a quota is justified? In addition, do you think a quota or tariff is a more effective form of trade restriction here? Discuss.
(Note: You can, but are not required to, include diagrams for this question)