Figure: The Market for Tea in Sri Lanka
(Figure: The Market for Tea in Sri Lanka) Look at the figure The Market for Tea in Sri Lanka.In autarky, the price of tea in Sri Lanka is P₁.When the economy is opened to trade, the price rises to PW.Sri Lanka will ________ tea and the volume of trade will equal _.
A.import; QT - CT
B.export; QT - CT
C.import; Q₁ - QT
D.export; CT - Q₁
Correct Answer:
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