The equilibrium price under an import quota is above the price that occurs with an import ban.

Name: The equilibrium price under an import quota is above the price that occurs with an import ban.
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An import ban would typically result in a higher domestic price than an import quota, as a ban completely restricts supply from abroad, potentially leading to a greater shortage of the good than under a quota, which still allows some level of imports.

The Equilibrium Price Under an Import Quota Is Above the Price