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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Definitions:

Conflict Resolution

Conflict resolution involves the process of resolving a dispute or disagreement between parties by addressing the root causes and finding an amicable solution that satisfies all parties involved.

Formal

Pertains to actions, procedures, or appearances that are done in accordance with established or prescribed rules.

Cooperation

The act of working together towards a common goal or interest, often involving shared resources or efforts.

Self-Managing Employer Teams

Groups of employees who are given the authority and responsibility to manage themselves without direct supervision.