(August 2014 Exam) Canadian demand for strawberries is given by D = 16000 2000p and the supply by domestic producers is given by S = 2000p 4000. Canada imports strawberries. The world price is only p = 3. Next month the Minister of Finance will introduce an import quota of 4,000 units in this market. 3. Provide a labelled Supply and Demand diagram and supporting calculations to assess how this import quota will affect price and quantity in the strawberry market. b. Blueberries are a substitute in consumption for strawberries. Making reference to your diagram from Part a. explain why the price elasticity of demand for strawberries is an important consideration when analyzing how this quota on strawberries will affect the well being of local blueberry producers