63 812
Assignments Done
99,5%
Successfully Done
In August 2018

Answer to Question #77194 in Microeconomics for David Justice

Question #77194
Determine whether the following are true or false. Explain you answer.

1. A ban on fishing in some fishing communities in a country will lower the price of fish

2. Protecting local textile manufacturers from Chinese clothing imports will lower the clothing price in that locality.

3. The rapid increase in price for toilet rolls in a country will lower the demand for toilet rolls.

4. The war against drugs, with increased interdiction of imported cocaine, will lower the price of domestically produced marijuana.
Expert's answer
1. A ban on fishing in some fishing communities in a country will lower the price of fish.
It is false, because supply will decrease and price will increase.
2. Protecting local textile manufacturers from Chinese clothing imports will lower the clothing price in that locality.
It is false, because supply will decrease and price will increase.
3. The rapid increase in price for toilet rolls in a country will lower the demand for toilet rolls.
It is false, because demand will not change, but quantity demanded will decrease.
4. The war against drugs, with increased interdiction of imported cocaine, will lower the price of domestically produced marijuana.
It is false, because supply will decrease and price will increase.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions