Exhibit 30-1 -A Quota Set Below the Free Market Equilibrium Quantity of Equilibrium

question 99

Multiple Choice

Exhibit 30-1
-A quota set below the free market equilibrium quantity of imports will mean that

• A)consumers will pay a price that would prevail in a foreign country.
• B)foreign producers will receive a price higher than the market equilibrium price without a quota.
• C)consumers will pay a price higher than the market equilibrium price without a quota.
• D)foreign producers will receive a price equal to the market equilibrium price without a quota.
• E)consumers will pay a price lower than the market equilibrium price without a quota.

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