If a nation imports a good that can be domestically produced, what happens to the quantity consumed of the good and why?
◦ The quantity consumed increases because the market price decreases.
◦ The quantity consumed decreases because the market price increases.
◦ The quantity consumed remains constant because the price is unchanged.
◦ The quantity consumed increases because the nation produces more of the good.
◦ The quantity consumed decreases because the market price decreases.