A consequence of the quota that has been imposed on the importation of sugar into the United States is
A) competition in the U.S. sugar market is reduced.
B) the market for sugar in the United States has become monopolistically competitive rather than oligopolistic.
C) the cost of producing cereal, chocolate, and candy products in the United States is reduced.
D) consumers are protected from eating unsafe products made from cheap imported sugar.
A
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There is no rational explanation how government can fund anti-smoking campaigns and tobacco subsidies simultaneously
a. True b. False
An effective price ceiling occurs when
A) the government sets a maximum price for a good above the equilibrium price. B) the government sets a minimum price for a good above the equilibrium price. C) the government sets a minimum price for a good below the equilibrium price. D) the government sets a maximum price for a good below the equilibrium price.