Multiple Choice
Which of the following correctly identifies the effect of an import quota on a good?
A) Domestic producers do not gain from an import quota.
B) The gain to domestic producers is higher than the loss to domestic consumers.
C) Prices in the global market will fall due to the imposition of an import quota.
D) Domestic consumers bear the burden of an import quota in terms of higher domestic prices.
Correct Answer:
Verified
Correct Answer:
Verified
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