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Belize These are the current domestic markets of Belize and Ghana without trade in a two- country, one good economy. Suppose that both of their

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Belize These are the current domestic markets of Belize and Ghana without trade in a two- country, one good economy. Suppose that both of their governments decide to open their borders to free trade with the other country. 1. What will happen to quantity supplied and quantity demanded in each domestic market? (2pts) 2. How much will each country import or export? (1pt) 3. What will be the equilibrium price of this two-country, free trade market? (1pt) 4. Has the equilibrium quantity changed? If so, by how much and to what value? (1pt)

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