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The table below lists the price and quantities demanded and supplied of tons of cotton in the countries of Quarterville and Boonton. Quarterville Quarterville Boonton
The table below lists the price and quantities demanded and supplied of tons of cotton in the countries of Quarterville and Boonton. Quarterville Quarterville Boonton Boonton Price Cotton demand Cotton supply Cotton Demand Cotton Supply $5 1695 1335 1760 1307.5 $10 1630 1390 1695 1362.5 $15 1565 1445 1662.5 1417.5 $20 1500 1500 1597.5 1500 $25 1435 1555 1532.5 1472.5 $30 1370 1610 1500 1500 $35 1305 1665 1435 1555 If the world price is currently $30, which of the following is true? OQuarterville will export Quarterville will import Nothing will happen How many tons of cotton will Quarterville import or export at that price
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