If a quota is set above the equilibrium quantity, there will be: no immediate effect. a supply price for the quantity transacted that exceeds the demand price of the quantity transacted. missed opportunities in the form of mutually beneficial transactions that don't occur. O incentives for illegal activities.

If a quota is set above the equilibrium quantity, there will be: no immediate effect. a supply price for the quantity transacted that exceeds the demand price of the quantity transacted. missed opportunities in the form of mutually beneficial transactions that don't occur. O incentives for illegal activities.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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