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3 years ago

If a quota is set above the equilibrium quantity, there will be:

Business

1 answer:

vodka [1.7K]3 years ago

3 0

Answer:

The correct answer is option c.

Explanation:

The quota is a non-tariff restrictive barrier on trade imposed by importing countries. It is the quantitative limit fixed on the imports. When a quota is imposed below the equilibrium price. It will lead to a reduction in supply and cause an increase in price. This will increase producer surplus for domestic producers but reduce consumer surplus.

If a quota is imposed above the equilibrium quantity it will not affect the market. This is because the suppliers are already supplying less than the quota limit.

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