Question # 6 Fill in the Blank
Complete the following sentence. Remember to spell correctly.

Limiting the amount of imported sugar that can be brought into the United States is an example of a(n)

Import quota

Explanation:

Import quotas are a means of controlling trade into a country. It is usually done because the good being imported is produced in the importing country but when it is imported it is cheaper which will have the effect of harming the domestic producers.

Import quotas will restrict trade by limiting the amount of the specific good that can be imported into the country within a given period. For instance, the U.S. mandating that only 30,000 tonnes of sugar may come into the country in a year. After that amount, no more sugar will be allowed in.

correct, but each time you dont pay the price of the penalty can increase.

answer/// equals both average variable cost and average total cost at their respective minimums;