The Figure Below Shows the Demand (D) and Supply (S)

question 84

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of corn syrups.Figure 21.3

-The effect of an import quota on the domestic market is to shift the:

• A)demand curve to the right by the amount of the quota.
• B)demand curve to the left by the amount of the quota.
• C)supply curve to the right by the amount of the quota.
• D)supply curve to the left by the amount of the quota.
• E)consumers' marginal utility curves if they prefer foreign goods to domestic goods.

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Definitions:

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time.

Rate of Interest

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced, representing the per-unit cost of production.

Marginal Cost

The increase in cost resulting from the production of one additional unit of a good.