Figure 8.2 Exporting,Importing and Autarky Equilibrium in the Small Village Bean Market

question 2

Multiple Choice

Figure 8.2
Exporting,Importing and Autarky Equilibrium in the Small Village Bean Market
Panel (a) Panel (b) Panel (c)

-According to Figure 8.2,if we define LIP as the local import price,EP as the external market price,LEP as the local export price,and AP as the autarky price,and if trade with big city were possible,which panel describes a situation where buyers are importing beans from big city?

• A) Panel a
• B) Panel b
• C) Panel c
• D) That situation is not described by any of the panels

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Definitions:

Artistic Effects

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A setting adjustment in display systems that makes the difference between light and dark colors more noticeable.

Shadow

A visual effect often used in graphic design and user interfaces to give the illusion of depth by suggesting a light source and an object's elevation above its backdrop.