Figure 18.3
-Refer to Figure 18.3. With an import ban, the equilibrium quantity is:

Name: Figure 18.3 -Refer to Figure 18.3. With an import ban, the equilibrium quantity is:
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Question

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An import ban would mean that the market relies solely on domestic supply and demand. The equilibrium quantity would be determined by the intersection of the domestic supply and demand curves, which is typically at a lower quantity than with imports.

Figure 18.3 -Refer to Figure 18.3. with an Import Ban, the Equilibrium