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Llanis Llanis
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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.
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Microeconomics

Microeconomics


Edition: 6th
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6 years ago
False. The opposite is true. Quotas restrict the supply curve. This reduces quantity and raises price.
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