11. Exhibit 1 illustrates the international tin market. Assume producing and consuming countries establish an international commodity agreement under which the target price of tin is $5 per pound. Which of the following statements is (are) correct? (x) Suppose demand for tin increases from Do to D1. Under a buffer stock system, the bufferstock manager could maintain the target price by selling 30 pounds of tin. (y) Suppose demand for tin decreases from Do to D2. Under a buffer stock system, the buffer-stock manager could maintain the target price by buying 30 pounds of tin. (2) Suppose demand for tin decreases from Do to D2. Under a system of export quotas, the tin producers could maintain the target price by decreasing the quantity of tin supplied by the amount of 15 pounds. (xtlyland(2) (x) and (y) only (x) and (2) only (y) and (2) only (x) only annual-taunting B 7 B 5 4 3 2 'I 0 NUDE? 13. Exhibit 2 illustrates the international tin market. Assume producing and consuming countries establish an international commodity agreement under which the target price of tin is $5 per pound. Which of the following statements is (are) correct? (x) Suppose the supply of tin increases from Exhibit 2 So to S1. Under a buffer stock system, the S2 buffer-stock manager could maintain the target price by selling 30 pounds of tin. So (y) Suppose the supply of tin decreases from So to S2. Under a buffer stock system, the buffer-stock manager could maintain the 8 target price by buying 30 pounds of tin. S, (z) Suppose the supply of increases from 6 So to S1. Under a system of export quotas, --- -. Target Price the tin producers could maintain the target price by decreasing the quantity of tin supplied by 30 pounds. . (x), (y) and (z) . (x) and (y) only 2 C. (x) and (z) only Do D. (y) and (z) only (z) only 10 20 30 40 50 60 70 80 Pounds of Tin