Suppose that the world price of copper is $4 a pound, Poland does not trade inte

Question

Suppose that the world price of copper is $4 a pound, Poland does not trade internationally, and the equiibrium price of copper in Poland is $3 a pound Poland then begins to trade internationally The price of copper in Poland . The quantity of copper produced in Poland OA. falls; increases OB, falls; decreases O C. rises; increases O D. rises; decreases The quantity of copper bought by Poland O A increases; imports B. decreases; imports ° C. increases; exports ' Poland, copper. O D. decreases, exports

Explanation / Answer

Suppose that the world price of copper is $4 a pound , Poland does NOT trade internationally, and the equilibrium price of copper in Poland is $3 a pound .

Poland begins to trade internationally

1.C- rises, increases

2D-decreases, exports

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