The following graph depicts the market for shoes in a particular country.Use the graph to answer the following questions:

-When a country decides to begin importing a good that they already produce domestically,then there will be an increase in ________ and the market price will ________.

Question

The following graph depicts the market for shoes in a particular country.Use the graph to answer the following questions:
 
-When a country decides to begin importing a good that they already produce domestically,then there will be an increase in ________ and the market price will ________.

Quizplus · Accepted Answer

When a country starts importing a good that it already produces, the supply of that good in the domestic market increases because of the additional imported goods. As supply increases, according to the law of supply and demand, the market price of the good will decrease.

The Following Graph Depicts the Market for Shoes in a Particular