How would the creation of an import quota affect the market for a good? Imported supply increases Domestic supply decreases Market price increases Consumer surplus increases Producer surplus decreases
How would the creation of an import quota affect the market for a good? Imported supply increases Domestic supply decreases Market price increases Consumer surplus increases Producer surplus decreases
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 4CQQ
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Question
(22) How would the creation of an import quota affect the market for a good?
Imported supply increases
|
Domestic supply decreases
|
Market
|
Consumer surplus increases
|
|
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