× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
s
3
v
3
p
3
m
2
s
2
d
2
N
2
d
2
e
2
s
2
s
2
e
2
New Topic  
Llanis Llanis
wrote...
Posts: 626
Rep: 0 0
6 years ago
Import quotas on steel tend to result in higher quantities of steel being sold at lower prices than would be observed in the absence of a quota.
True or False? Provide an explanation.
Textbook 
Microeconomics

Microeconomics


Edition: 6th
Author:
Read 73 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
False. The opposite is true. Quotas restrict the supply curve. This reduces quantity and raises price.
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  920 People Browsing
 117 Signed Up Today
Related Images
  
 386
  
 287
  
 1735
Your Opinion
Which country would you like to visit for its food?
Votes: 262