After you have studied Economics in the News on pp. 172-173, answer the following questions.

a. How can we check whether Canada has a comparative advantage in producing cheese?

b. Who benefits from a Canadian import quota on cheese, and why do they benefit?

c. Why does a cheese import quota bring a dead- weight loss?

d. If the ratification of CETA eventually climi- nates Canada's import quota on cheese, who will gain, who will lose, and will the gains exceed or fall short of the losses?

c. Draw a graph of the Canadian cheese market to illustrate your answer