Suppose the United States producers of rice convince the government to place a quota on (or to restrict entirely) the import. a. What is the effect on U.S. producers of rice? b. What is the effect on U.S. consumers of rice? c. What is the effect on the foreign producers of rice?

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter6: The Economics Of Political Action
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Problem 15CQ
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Suppose the United States producers of rice convince the government to place a quota on (or to restrict entirely) the import.
a. What is the effect on U.S. producers of rice?
b. What is the effect on U.S. consumers of rice?
c. What is the effect on the foreign producers of rice?
Transcribed Image Text:Suppose the United States producers of rice convince the government to place a quota on (or to restrict entirely) the import. a. What is the effect on U.S. producers of rice? b. What is the effect on U.S. consumers of rice? c. What is the effect on the foreign producers of rice?
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