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Suppose Guatemala is open to free trade in the world market for oranges. Because of Guatemala's small size, the demand for and supply of
Suppose Guatemala is open to free trade in the world market for oranges. Because of Guatemala's small size, the demand for and supply of oranges an Guatemala do not affect the world price. The following graph shows the domestic oranges market is Gastemala. The world price of oranges is P- $800 per ton. On the following graph, une the green triangle (triangle symbol) to shade the area representing comme supku (CS) when the economy is at the free trade equilibrium Then, une the purple triangle (amond symboh) to shade the area representing producer surple (PS) PRICE (Des per !!!!!!! THE Domes Demand Domed Sy . 100 125 150 175 206 225 250 QUANTITY (Tues of oranges)
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