If Australia imposed a quota on the amount of salmon imported from New Zealand, the result would be ________ salmon prices in Australia and ________ in the quantity of salmon demanded in Australia.

Question

Quizplus · Accepted Answer

Imposing a quota on salmon imports from New Zealand would limit the supply of salmon in Australia, leading to higher prices. With higher prices, the quantity of salmon demanded in Australia would decrease, as consumers may look for alternative products or reduce consumption due to the increased cost.

If Australia Imposed a Quota on the Amount of Salmon