With free trade between Australia and the United​States, Australia would export beef to the United States. But the United States imposes an import quota on Australian beef. Explain how this quota influences the price that U.S. consumers pay for​ beef, the quantity of beef produced in the United​ States, and the U.S. and the Australian gains from trade. Question content area bottom Part 1 If the United States imposes an import quota on Australian​ beef, the price that U.S. consumers pay for beef will​______ and the quantity of beef produced in the United States will​______.
A. not​ change; decrease
B. ​rise; not change
C. ​rise; increase
D. not​ change; increase

Q&A Education