Multiple Choice
Refer to the table below to answer the following questions.
Table 7.1.1
Glazeland's Doughnut Market
-Table 7.1.1 shows Glazeland's doughnut market before international trade.Glazeland opens up to international trade.If the world price is $0.60 a doughnut then Glazeland will produce ________ doughnuts and will ________ doughnuts.
A) 2 million;import 3 million
B) 4 million;import 1 million
C) 4 million;export 1 million
D) 5 million;import 3 million
E) 5 million;export 3 million
Correct Answer:

Verified
Correct Answer:
Verified
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