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Price Glazeland's Supply Glazeland's Demand (dollars per doughnut) (millions) (millions) 0.20 1 10 0.30 2 8 0.40 3 6 0.50 4 4 0.60 5 2
Price Glazeland's Supply Glazeland's Demand (dollars per doughnut) (millions) (millions) 0.20 1 10 0.30 2 8 0.40 3 6 0.50 4 4 0.60 5 2 0.70 6 0 Table 7.1.1 shows Glazeland's doughnut market before international trade. Glazeland opens up to international trade. If the world price is $0.40 a doughnut then Glazeland will produce 0 A. 3 million; import 3 million 0 B. 3 million; export 3 million 0 C. 4mi||ion; import1 million 0 D.4mi||ion; export1 million 0 E. 6 million; export 3 million doughnuts and will doughnuts
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