Related to the Economics in Practice on p. 673: The French economy would most likely have to pay higher prices for candles if the candle makers in the petition

Question

Quizplus · Accepted Answer

If the candle makers in the petition were able to gain protection for their industry, typically through tariffs on imported candles or quotas limiting the number of imported candles, domestic prices would likely increase. This is because protectionist measures reduce foreign competition, allowing domestic producers to charge higher prices.

Related to the Economics in Practice on P