Suppose that the world price of oranges is $0.30. The United States introduces an import quota of 3,000 oranges and assigns the

Question

2 years ago

10

Suppose that the world price of oranges is $0.30. The United States introduces an import quota of 3,000 oranges and assigns the

quota rents to foreign orange exporters.
- Draw the domestic demand and supply curves.
- What will the domestic price of oranges be after introduction of the quota?
- What is the value of the quota rents that foreign exporters of oranges receive?

Advanced Placement (AP)

1 answer:

wel · Answer 1 · 2022-07-17T19:48:15+03:00

wel2 years ago

6 0

Answer:

the economy experiences a loss

Explanation: