Which of the Following Statements Is TRUE

question 107

Multiple Choice

Which of the following statements is TRUE?
I. If the United States bans the importation of bananas, consumer surplus will decrease.
II. If the United States bans the importation of bananas, producer surplus will decrease.
III. If the United States bans the importation of bananas, it will produce bananas at a cost exceeding their world purchase price.

• A) I, II, and III
• B) I and II only
• C) I and III only
• D) II and III only

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