The 2021 demand and supply equations for Canadian cheese are as follows:

P = $400 - Q_d^Can(1)

P = $100 + Q_s ^Can(2)

s a result of President Biden's friendship with the Prime Minister, Canada has now agreed to allow U.S. producers in 2022 to sell their cheese in Canada. What is the economic impact of this new import supply in Canada?

The U.S. supply is given as:

P = 105 + 3Qs^U.S.

^{what is?}

Original price___________Original output____________

New price___________New output_____________

2022 Sales by Canadians_______ by U.S. firms____________

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