As a result of importing a good,domestic producers ________ the quantity produced and the price of the good ________.

Question

Quizplus · Accepted Answer

When a good is imported, the domestic producers face increased competition, which leads to a decrease in the quantity produced and a fall in the price of the good. This occurs because imported goods are often cheaper, and consumers switch to the imported goods, forcing domestic producers to decrease their output and lower their prices to remain competitive.

As a Result of Importing a Good,domestic Producers ________ the Quantity