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c. The first policy is to impose a quota on production of 80 million bottles per month. What would happen to the market price? Calculate the change in income of producing alcohol brought about by the introduction of the quota system. Does income of producing alcohol increase or decrease as a result of the quota. Illustrate your results using the diagram. [10 marks]
c. The first policy is to impose a quota on production of 80 million bottles per month. What would happen to the market price? Calculate the change in income of producing alcohol brought about by the introduction of the quota system. Does income of producing alcohol increase or decrease as a result of the quota. Illustrate your results using the diagram. [10 marks]
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glorysoft2Lv10
2 Oct 2022
Beverley SmithLv2
17 Feb 2018
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