When Import Restrictions Are Placed on a Good,and as a Result

question 56

Multiple Choice

When import restrictions are placed on a good,and as a result the price of the good increases,the demand curve for that good will

• A)shift rightward.
• B)shift leftward.
• C)become steeper.
• D)be unaffected.

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Definitions:

Demographic

Pertains to specific characteristics of populations, such as age, gender, income level, and education, which are used for marketing and social research.

Benefit Basis

The underlying advantages or favorable aspects upon which decisions or actions are based.

Occasion

A specific time or event for which a particular activity is suited or at which it takes place.

Loyalty

The quality of being faithful in one's support of a particular brand, product, or service, often resulting in repeat purchases or continued engagement.