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 chetry 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) Price of imported gourmet/special cherries b. Domestic produced cherry prices for consumers C. Input costs for cherry filing and cherry pie producers Orices for consumers that purchase cherry filling and/or cherry pies Profits of cherry farmers

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 chetry 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) Price of imported gourmet/special cherries b. Domestic produced cherry prices for consumers C. Input costs for cherry filing and cherry pie producers Orices for consumers that purchase cherry filling and/or cherry pies Profits of cherry farmers

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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