The following data is for the hypothetical nations of Alpha and Beta.Q_s is domestic quantity supplied and Q_d is domestic quantity demanded. Refer to the above data.At a world price of $2:

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At a world price of $2, the domestic quantity demanded of steel in Alpha (Q_d) is 40 and the domestic quantity supplied (Q_s) is only 20. Therefore, Alpha will want to import 20 units of steel to meet its demand. Beta's domestic quantity demanded and supplied are equal at a world price of $2, so it will neither want to import nor export steel.

The Following Data Is for the Hypothetical Nations of Alpha