Which of the following situations will arise in the domestic market following the imposition of an import ban?

Question

Quizplus · Accepted Answer

An import ban typically leads to increased demand for domestically produced goods, as the supply of foreign goods decreases. This can lead to an increase in domestic production to meet the higher demand. Additionally, the reduced competition from foreign producers can allow domestic companies to raise prices.

Which of the Following Situations Will Arise in the Domestic