Problem 2: International Trade (3 points) The table below shows the domestic supply and demand schedule for sugar in Tha

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Problem 2 International Trade 3 Points The Table Below Shows The Domestic Supply And Demand Schedule For Sugar In Tha 1 (19.82 KiB) Viewed 23 times

Problem 2: International Trade (3 points) The table below shows the domestic supply and demand schedule for sugar in Thailand. Suppose the world price of sugar is $60 per metric ton Price of Sugar ($/metric ton) Quantity Demanded (million metric tons) Quantity Supplied (million metric tons) 10 155 90 150 145 140 75 70 65 60 55 50 45 40 100 110 120 130 140 150 Once Thailand open up to trade a in autarky, the domestic price of sugar in Thailand is With trade, Thailand will come d Thailand wil 135 130 125 120 per metric ton and million metric tons of sugar will be supplied and demanded milion metric tons of sugar will be supplied by domestic producers milion metric tons of sugar domestically million metric tons of sugar, inter ether import or export in the first blank, and the quantity imported exported in the second blank]