The European Union sets a quota on the quantity of garments brought in from China. What is likely to happen to the prices obtained by Chinese garment producers and to the prices paid by consumers of Chinese garments in Europe and the United States (US)?
- Aprices received by Chinese producers: decrease; prices paid by European consumers: decrease; prices paid by US consumers: decrease
- Bprices received by Chinese producers: decrease; prices paid by European consumers: increase; prices paid by US consumers: increase
- Cprices received by Chinese producers: increase; prices paid by European consumers: decrease; prices paid by US consumers: increase
- Dprices received by Chinese producers: increase; prices paid by European consumers: increase; prices paid by US consumers: decrease