Table 31.1.1 Glazeland's Doughnut Market

Table 31.1.1
Glazeland's Doughnut Market

-Table 31.1.1 shows Glazeland's doughnut market before international trade. Glazeland opens up to international trade. If the world price is $0.40, then Glazeland will produce ________ doughnuts and will ________ doughnuts.

A) 3 million; import 3 million
B) 3 million; export 3 million
C) 4 million; import 1 million
D) 4 million; export 1 million
E) 6 million; export 3 million