An import ban results in:

Question

Quizplus · Accepted Answer

When an import ban is put in place, there will be a decrease in the supply of the product available in the market. This will lead to a decrease in the quantity of the product bought and sold as consumers have fewer options to choose from. Demand will remain the same or could even increase due to the lack of imports, which may lead to an increase in the product's price as consumers compete to secure the limited available supply. Therefore, all three options are true, and the correct answer is D.

An Import Ban Results In