Which of the following would result from a quota imposed on the quantity of cars that can be imported into the United States?

Question

Quizplus · Accepted Answer

Imposing a quota on the quantity of cars that can be imported into the United States will decrease the supply of cars in the market, leading to an increase in prices paid by consumers. This will result in a decrease in consumer surplus, as they will have to pay higher prices to purchase the same quantity of cars.

Which of the Following Would Result from a Quota Imposed