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1.You are aware of the three pillars of the milk policy regime in Canada, and how quota levels are determined, given the other two pillars,
1.You are aware of the three pillars of the milk policy regime in Canada, and how quota levels are determined, given the other two pillars, but what will happenif the demand curve shifts rightdue to income and population growth, but for some reason the quota levels are not changed? What would you anticipate would happen in this market to result in a return to equilibrium, given no change in the price farmers are paid (P1), the quota level Q1, and the TRQ level which is exogenous in any case.
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