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Question 212

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Use the following to answer question: Use the following to answer question: -(Figure: The Market for Tea in Sri Lanka) Use Figure: The Market for Tea in Sri Lanka.In autarky,the price is P<sub>1</sub>.When the economy is opened to trade,the price rises to P<sub>W</sub>.Sri Lanka will _____ tea and the volume of trade will equal _____. A) import;Q<sub>T</sub> - C<sub>T</sub> B) export;Q<sub>T</sub> - C<sub>T</sub> C) import;Q<sub>T</sub> - Q<sub>1</sub> D) export;Q<sub>1</sub> - C<sub>T</sub>
-(Figure: The Market for Tea in Sri Lanka) Use Figure: The Market for Tea in Sri Lanka.In autarky,the price 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;QT - Q1
D) export;Q1 - CT

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