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Fact 15.3.2
With free trade between Australia and Canada, Australia would export beef to Canada.But Canada imposes an import quota Australian beef.
-Refer to Fact 15.3.2.If Canada imposes an import quota on Australian beef, the price that Canadian consumers pay for beef will _______ and the quantity of beef produced in Canada will _______.

Question

Quizplus · Accepted Answer

Imposing an import quota on Australian beef would limit the supply of beef in Canada, causing prices to rise due to the reduced competition. Additionally, with less imported beef available, Canadian beef producers would likely increase production to meet demand, hence the quantity of beef produced in Canada would increase.

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