What Should Happen to the Equilibrium Price and Quantity in a Market

question 73

Multiple Choice

What should happen to the equilibrium price and quantity in a market as a result of a tariff on imports?

• A)Equilibrium price and quantity should both go up.
• B)Equilibrium price should go up,and equilibrium quantity should go down.
• C)Equilibrium price should go down,and equilibrium quantity should go up.
• D)Equilibrium price and quantity should both go down.

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