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5 . The effects of exports on surplus The following graph shows the weekly domestic market for boysenberries in Kvetchnya. In the absence of trade,
5 . The effects of exports on surplus
The following graph shows the weekly domestic market for boysenberries in Kvetchnya. In the absence of trade, the domestic price of boysenberries is $5 per kilogram and the equilibrium quantity is 7 million kilograms per week. The world price of boysenberries is $8 per kilogram.
10 9 Domestic Demand Domestic Supply Scratch Area 8 7 6 5 PRICE (Dollars per kilogram) 4 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Millions of kilograms)Step by Step Solution
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