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If the supply of a good is elastic, then a quota on that good will likely lead to a relatively large increase in the price
If the supply of a good is elastic, then a quota on that good will likely lead to a relatively large increase in the price of that good. This is because producers are very responsive to changes in price when supply is elastic. Question 20Answer a. True b. False
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How The Old World Ended The Anglo-Dutch-American Revolution 1500-1800
Authors: Jonathan Scott
1st Edition
0300249365, 9780300249361
