Can no longer purchase canadian lumber

Reference no: EM133711777

Question: Suppose that in the past, Canada and the United States were involved in a trade agreement whereby US softwood lumber consumers were able to purchase Canadian produced lumber. The initial demand and supply equations that characterized the domestic Canadian softwood lumber market were as follows: P=150-2Qd CAN US P=30 2Qs CAN But suppose a trade dispute arises between the two countries and the US government places a trade embargo on Canadian softwood lumber, such that US consumers can no longer purchase Canadian lumber?

Reference no: EM133711777

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