Mathematics, 01.12.2020 04:40 sliim89
Consider the Honduran market for soybeans.
The following graph shows the domestic demand and domestic supply curves for soybeans in Honduras. Suppose Honduras's government currently does not allow international trade in soybeans.
Use the black point (plus symbol) to indicate the equilibrium price of a ton of soybeans and the equilibrium quantity of soybeans in Honduras in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use the purple triangle (diamond symbol) to shade the area representing producer surplus in equilibrium.
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Consider the Honduran market for soybeans.
The following graph shows the domestic demand and domest...
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