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Assume that the United States imposes an import quota on Scottish wool suits. Relative to the equilibrium price that would prevail in the absence of quotas, the equilibrium price of suits in the United States will most likely _____ and the equilibrium price of suits in Scotland will most likely _____.

Respuesta :

Answer:

increase and decrease

Explanation:

we know when imposes an import quota on anywhere then price where will increase there and other part where that product is export there price will be less as compare to import place due to some quota

so here when US imposed quota on wool suit

so US most likely increase price and

Scotland most likely price decrease

so answer of fill up is increase and decrease

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