If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?

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15-04-2014
Business

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If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?

Sagot :

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A customer pays 50 dollars for a coffee maker after a discount of 20 dollars What is the original price of the coffe maker?

mackiemesser mackiemesser · Answer 1 · 2014-05-28T10:52:22-04:00

mackiemesser mackiemesser

28-05-2014

If import restrictions only in this country are lifted, equilibrium price will be lower, as there will be more supply and demand will stay the same.

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If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?

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