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VladimirAG [237]
3 years ago
14

A demand curve for the steel porcupines' concert tickets would show the:

Business
1 answer:
AlladinOne [14]3 years ago
4 0
<span>A demand curve represents the relation between different prices of a commodity and its varying quantities purchased by people at different prices. As a general rule, the more the price, the less the demand. In the scenario described in the question, the demand curve shows the number of tickets that will be purchased at various prices. Ticket is the commodity here and the people who purchase the tickets represent demand.</span>
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Benefit domestic producers of the protected good and harm domestic consumers of the protected good.

Explanation:

Trade policies tariffs and quotas benefit domestic producers of the protected good and harm domestic consumers of the protected good as they're made to pay for the consumption of imported products. Hence, under free trade there are more societal benefits due to the specialization of domestic goods.

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In order to generate revenues, domestic government make use of tariffs while quotas do not generate any revenue for them.

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