When a country that imports a particular good imposes an import quota on that good:
A. consumer surplus increases and total surplus increases in the market for that good.
B. domestic sellers and domestic buyers become worse off.
C. the domestic quantity supplied decreases.
D. consumer surplus decreases and total surplus decreases in the market for that good.

Question

08-12-2022
Business

contestada

When a country that imports a particular good imposes an import quota on that good:
A. consumer surplus increases and total surplus increases in the market for that good.
B. domestic sellers and domestic buyers become worse off.
C. the domestic quantity supplied decreases.
D. consumer surplus decreases and total surplus decreases in the market for that good.

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Tundexi Tundexi · Answer 1 · 2022-12-12T18:26:47+01:00

When a country that imports a particular good imposes an import quota on that good, then, the consumer surplus decreases and total surplus decreases in the market for that good. The Option D is correct.

What is an import quota?

In economics, an import quota refers to a kind of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. Quotas, jut like other trade restrictions are typically used to benefit the producers of a good in that economy (protectionism).

In most economies, the main objective of an import quota to protect the domestic market from foreign goods by limiting importing goods from the overseas market.