-Refer to Figure 32-6. If equilibrium were at point j and the government imposed import quotas the equilibrium moves to
A)g
B)h
C)i
D)None of the above is correct.

Name: -Refer to Figure 32-6. If equilibrium were at point j and the government imposed import quotas the equilibrium moves to A)g B)h C)i D)None of the above is correct.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

-Refer to Figure 32-6. If equilibrium were at point j and the government imposed import quotas the equilibrium moves to
A)g 
B)h 
C)i 
D)None of the above is correct.

Quizplus · Accepted Answer

Import quotas reduce the quantity of imports, shifting the supply curve to the left. This moves the equilibrium from point j to point g.