If a government imposes a quota on imports of a popular doll, the price of the doll in the country will ________ and the quantity purchased in the country will ________
A) rise; increase
B) rise; decrease
C) fall; increase
D) fall; decrease
B
Economics
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The profit maximizing rule MR = MC applies to:
A. imperfectly competitive firms only. B. monopolists only. C. all firms. D. perfectly competitive firms only.
Economics
In a competitive market,
A. Neither buyers nor sellers have market power. B. Buyers and sellers both have market power. C. Sellers don't have market power but buyers do. D. Buyers don't have market power but sellers do.
Economics