Ozland is a small country that takes the world price of rice as given. Its domestic supply and demand for rice is given by the following:

D= 102 - 6P

S= 6P - 30

a.Graph the demand and supply of rice in Ozland

b.Assume initially that Ozland does not open to trade. What is the autarky equilibrium price and quantity?

c.Suppose Ozland decides to engage in trade. Determine the quantity demanded, quantity supplied, and import given the world price of $8 per unit of rice.