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-(Figure: The Domestic Market for Rice) Use Figure: The Domestic Market for Rice.Assume that P_A is the autarky price and P_W is the world price.After international trade,this nation will _____ a quantity of rice equal to _____.

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Use the following to answer question

-(Figure: The Domestic Market for Rice) Use Figure: The Domestic Market for Rice.Assume that P_A is the autarky price and P_W is the world price.After international trade,this nation will _____ a quantity of rice equal to _____.

Quizplus · Accepted Answer

When the world price (P_W) is lower than the autarky price (P_A), the nation will export rice. The quantity exported is the difference between the quantity supplied (Q_s) and the quantity demanded (Q_d) at the world price.

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