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uni67 uni67
wrote...
Posts: 475
4 years ago
If the government imposes a quantity restriction on how many shoes can be imported into a country, and the total quantity is below the market equilibrium quantity:

▸ total surplus in the market decreases.

▸ total surplus in the market does not change.

▸ total surplus in the market increases.

▸ total surplus may increase or decrease, depending on whether costs are increasing or decreasing in production.
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
Read 144 times
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wrote...
4 years ago
total surplus in the market decreases.
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