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Author Question: Effects of Import QuotasThe graph shows the market for cotton in the United States. Assume that ... (Read 98 times)

kckanistras

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on: Nov 23, 2022
Effects of Import Quotas

The graph shows the market for cotton in the United States.
 

Assume that P1=$9.00, P2=$11.50, Q1=20, Q2=88, Q3=234, and Q4=292. After pressure from cotton farmers, the US government decides to impose an import quota equal to 146. As a result of the quota, the quantity supplied by US firms ________ (increases/decreases) by ________, US cotton consumption ________ (increases/decreases) by ________. Overall, US producers ________ (gain/lose), US consumers ________ (gain/lose), foreign producers ________ (gain/lose), and economic surplus ________ (increases/decreases).
◦ increases, 88, decreases, 234, gain, lose, lose, decreases
◦ decreases, 88, increases, 234, lose, gain, gain, increases
◦ decreases, 68, increases, 58, lose, gain, gain, increases
◦ increases , 68, decreases, 58, gain, lose, lose, decreases
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by kckanistras on Nov 23, 2022

khammond77

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kckanistras

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Reply 2 on: Nov 23, 2022
Thanks for the timely response, appreciate it

Sarahjh

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Reply 3 on: Yesterday
Wow, this really help

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