Answer: Production possibility frontier (PPF).
Explanation: PPF is curve on a graph which depicts the situation which you have asked in a question. For your ease i will upload a picture of that curve so that you can understand the answer better. For better understanding the graph below uses the example of Cotton as a good.
Answer:
The quota system is not efficient since the total supply is less than the equilibrium quantity. This will produce a deadweight loss which equals the lost supplier surplus plus the lost consumer surplus. The deadweight loss s the area between the demand and supply curve, and between the imposed quota and the equilibrium quantity.
Graph 1 shows the market equilibrium while graph 2 shows the deadweight loss.
