question archive Consider a country that initially consumes 100 pairs of shoes per hour, all of which are imported
Consider a country that initially consumes 100 pairs of shoes per hour, all of which are imported
Subject:EconomicsPrice: Bought3
Consider a country that initially consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed. Use a graph to explain what happens to the price of shoes and the number of shoes consumed after a total ban on imports.
