The first panel in the following figure shows the domestic demand (D) and supply (S) curves of Columbian coffee and the second panel shows the import demand and export supply of Columbian coffee in the international market.Figure 20.1

-Refer to Figure 20.1. The autarky equilibrium price of coffee in Columbia is:

Question

The first panel in the following figure shows the domestic demand (D) and supply (S) curves of Columbian coffee and the second panel shows the import demand and export supply of Columbian coffee in the international market.Figure 20.1
 
-Refer to Figure 20.1. The autarky equilibrium price of coffee in Columbia is:

Quizplus · Accepted Answer

At the autarky equilibrium, quantity demanded equals quantity supplied, which occurs at the intersection of the domestic demand and supply curves. In this case, the intersection point is at a price of $10.

The First Panel in the Following Figure Shows the Domestic