12. Draw a domestic supply-and-demand diagram for a product in which Canada does not have a comparative advantage. What impact do foreign imports have on domestic price and quantity? On your diagram show a protective tariff that eliminates approximately one-half of the assumed imports. What are the price-quantity effects of this tariff on

(a) domestic consumers,

(b) domestic producers, and

(c) foreign exporters? How would the effects of a quota that creates the same amount of imports differ? [LO19.3]