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If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?
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If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?

User Ankit Bohra
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If import restrictions only in this country are lifted, equilibrium price will be lower, as there will be more supply and demand will stay the same.
User Rcruz
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