Related to the Economics in Practice on p. 669: The French economy would most likely have to pay higher prices for candles if the candle makers in the petition
A) were able to gain protection for their industry.
B) were not granted any protection for their industry.
C) were allowed to export their product.
D) had a comparative advantage in producing candles.

Question

Quizplus · Accepted Answer

If the candle makers in the petition were able to gain protection for their industry, it would likely result in higher prices for candles in the French economy as competition would be decreased and the protected candle makers would be able to charge higher prices without fear of losing market share to foreign competitors.

Related to the Economics in Practice on P