Draw Figures of Demand and Supply in Equilibrium, with Foreign Trade. Put the proper labels such as Price, Quantity, Demand Curve of RP households, Supply Curve of RP firms, Philippine Price, World Price, and the like.

1.Draw one Figure of Demand and Supply in Equilibrium with Exports

2.Draw one Figure of Demand and Supply in Equilibrium with Imports

FOR REFERENCES SEE THE PICTURE BELOW

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Figure 5A: Equilibrium Demand and Supply in RP : Dried Mangoes Surplus S RP firms P6surplu Price (Php) Pe RP Price Equilibrium P1shortage Shortage D RP households 0 Q1 Q2 Qe at Q6 Pe Quantity (Packs of Mangoes in Hundreds)Figure 5B: Equilibrium Demand and Supply w/ Trade : Dried Mangoes Surplus dried mangoes for world S RP firms P6surplus consumption World Price Price (Php) Pe RP Price P1shortage Shortage D RP households 0 Q1 Q2 Qe at Q6 Pe Quantity (Packs of Mangoes in Hundreds)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)Figure 2.1: Equilibrium Demand and Supply w/ Trade : Durian Exports P6 Price (Php) Pe P1 0 Q1 Q2 Qe at Q6 Pe Quantity (Packs of Durian in Hundreds)Figure 5: Equilibrium Demand and Supply Surplus S 15 600 200 __ 100 g 400 400 g 75 300 500 50 Shortage 3 5 5 200 600 Quantity (No. of Burgers in Hundreds]