A.Draw one Figure of Demand and Supply in Equilibrium, with Imports. Put the proper labels such as Price,Quantity, Demand Curve of RP households, Supply Curve of RP firms,Philippine Price, World Price,prices, quantities, surplus, and shortage.(Use Course Module 2 as reference)

1.Draw one Figure ofDemand and Supply in Equilibrium with Imports. JUST PUT THE PROPER LABELS JUST LIKE IN THE PICTURE BELOW.

Figure 5C: Equilibrium Demand and Supply w/ Trade : Rice Imports Surplus S RP firms P6surplus Price (Php) Pe RP Price World Price P1shortage Shortage in local rice, augmented by imports D RP households 0 Q1 Q2 Qe at Pe Q5 Quantity ( Rice in Thousands Metric Tons)