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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
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May 9, 2022
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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)
college
RossC
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Answer:
the economy experiences a loss
Step-by-step explanation:
Chris Sprague
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