A U.S. import fee on oil would reduce the domestic quantity of oil demanded.

Name: A U.S. import fee on oil would reduce the domestic quantity of oil demanded.
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Question

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If a U.S. import fee is imposed on oil, the price of imported oil will increase, making it relatively less attractive compared to domestic oil. As a result, the domestic quantity of oil demanded will decrease, as consumers and businesses search for alternatives to the more expensive imported oil.

A US Import Fee on Oil Would Reduce the Domestic Quantity