A country puts in a quota limitation on the importation of cherries into their country. Cherries imported are educed by 90% because of this quota. This is welcomed by cherry growers in this country. Indicate the consequence for each category/group a-e listed below within the country that imposed the quota on imports. ffoot uith an I for increase D for decrease, and U for un/ indeterminate from
A country puts in a quota limitation on the importation of cherries into their country. Cherries imported are educed by 90% because of this quota. This is welcomed by cherry growers in this country. Indicate the consequence for each category/group a-e listed below within the country that imposed the quota on imports. ffoot uith an I for increase D for decrease, and U for un/ indeterminate from
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Hey I think that they are all increase but I don’t really understand how it would affect it. Less cherries means more demand but less supply so more for cherries for example the current chicken wing shortage. Some restaurants are charging more for wings.
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A country puts in a quota limitation on the importation of cherries into their country. Cherries imported are
reduced by 90% because of this quota. This is welcomed by cherry growers in this country.
Indicate the consequence for each category/group a-e listed below within the country that imposed the
quota on imports.
(Indicate the effect with an I for increase, D for decrease, and U for un/ indeterminate from
information provided)
a.
Price of imported gourmet/special cherries
b.
Domestic produced cherry prices for consumers
Input costs for cherry filing and cherry pie producers
с.
d.
Erices for consumers that purchase cherry filling and/or cherry pies
е.
Profits of cherry farmers
a.
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