Question: Illustrate and explain why a binding import quota on tea will insulate internal tea prices in a given nation of X from fluctuation caused by

Illustrate and explain why a binding import quota on tea will insulate internal tea prices in a given nation of X from fluctuation caused by the world market instability.

The country of Alpha traditionally has protected its coffee growers by means of a high guaranteed price and variable import levies. The Alpha government is considering moving to a deficiency payments scheme to achieve the same level of producer protection. Analyze the economic effects of this proposal, including its basic welfare implications.

What are advantages and disadvantages of the Canadian supply management? Please analyze the desirability using economic theories.

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