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Assume That Canada Imposes an Import Quota on Scottish Wool

Question 148

Multiple Choice

Assume that Canada imposes an import quota on Scottish wool suits.Relative to the equilibrium price that would prevail in the absence of quotas,the equilibrium price of suits in Canada will most likely _____ and the equilibrium price of suits in Scotland will most likely _____.


A) remain the same;decrease
B) remain the same;increase
C) increase;increase
D) increase;decrease

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