If the United States imposes an import quota on Portuguese port, the result in the short run is likely to be _____ profits for American wine producers and _____ profits for Portuguese port producers.

Question

Quizplus · Accepted Answer

An import quota on Portuguese port would limit the amount of port that could be imported into the United States, reducing competition for American wine producers. This would likely lead to higher profits for American producers due to reduced competition and potentially higher prices. For Portuguese port producers, the quota would limit their access to the U.S. market, likely resulting in lower profits due to decreased sales volumes.

If the United States Imposes an Import Quota on Portuguese