Question: Using the data on supply and demand in problem 3 suppose

Using the data on supply and demand in problem 3, suppose the EU imposed a quota on imports of beef equal to 40 million pounds of beef per month
a. What would be the price of beef in the EU?
b. How much beef would EU producers supply?
c. How much beef would EU consumers demand?


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  • CreatedDecember 11, 2012
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