Multiple Choice
If the price U.S. consumers pay with a quota on an imported good exceeds the price they pay without a quota, then the quota was set
A) above the equilibrium quantity without a quota.
B) below the equilibrium quantity without a quota.
C) sometimes above and sometimes below the equilibrium quantity without a quota.
D) equal to the equilibrium quantity without a quota.
E) to allow a different quantity of imports than a tariff.
Correct Answer:
Verified
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