-The Figure Above Shows the U

Essay

-The figure above shows the U.S.demand and the U.S.supply curves of canned peaches.
a.In the absence of trade,what is price of canned peaches in the United States?
b.In the absence of trade,what is the level of production in the United States?
c.If the world price of canned peaches is $1 a can and the United States engages in trade,does the United States import or export canned peaches?
d.If the world price of canned peaches is $1 a can and the United States engages in trade,what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported?
e.If the world price of canned peaches is $2 a can and the United States engages in trade,does the United States import or export canned peaches?
f.If the world price of canned peaches is $2 a can and the United States engages in trade,what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported?