Import quotas will increase the price consumers pay for imported goods and

Name: Import quotas will increase the price consumers pay for imported goods and
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Question

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Import quotas restrict the volume of imports allowed into a country. As there is less supply, the price for the imported goods will increase. This will make domestic products more competitive, potentially leading to an increase in domestic production and a decrease in imports. It will not affect the volume of exports.

Import Quotas Will Increase the Price Consumers Pay for Imported