If the United States imposed a quota on the amount of salmon imported from Chile,the result would be ________ salmon prices in the United States and ________ in the quantity of salmon demanded in the United States.
A) higher; an increase
B) higher; a decrease
C) lower; an increase
D) lower; a decrease
E) higher; no change

Question

Quizplus · Accepted Answer

By imposing a quota on Chilean salmon, the supply of salmon in the US market will decrease, causing an increase in price due to a decrease in supply. Additionally, the decrease in supply may lead to a decrease in demand as consumers may switch to other sources of fish or reduce their overall consumption. Therefore, the result would be higher salmon prices in the United States and a decrease in the quantity of salmon demanded.

If the United States Imposed a Quota on the Amount