American textile manufacturers and union members have often lobbied successfully for restrictive quotas limiting the importation of textile products. The major impact of these quotas is
a. a permanent reduction in unemployment in the United States.
b. lower prices for American consumers and an improvement in the quality of textile products available.
c. higher prices for American consumers, a narrower selection of products, and less competition in the U.S. textile industry.
d. long-run profits in the U.S. textile industry that are substantially above market equilibrium.
C
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