Raise the equilibrium world price

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Reference no: EM133714255

Question: The Canadian government wants to reduce Canada's dependence on other countries, such as the US and Mexico, for tomatoes, especially since there are Canadian farmers currently growing them domestically. The government is hoping to curb Canada's imports of tomatoes, but cannot decide whether to set an import quota or introduce an import tariff. Either policy option would raise the equilibrium world price from to . They've consulted with different groups, asking for their opinion on whether they prefer the import quota or the import tariff

Reference no: EM133714255

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