Australia exports livestock to several countries in Asia. Assume that, ceteris paribus, a major overseas buyer imposes a ban on Australian livestock entering that country.

Use the Demand Supply model to analyse the impact on the price and quantity of livestockfor Australian livestock businesses.(You don't need to submit a Demand/Supply model - an incomplete one is shown - but use it to help you).

Your answer should describe if the demand/supply shifts and which direction; and the equilibrium price and quantity.