The First Panel in the Following Figure Shows the Domestic

question 66

Multiple Choice

The first panel in the following figure shows the domestic demand (D) and supply (S) curves of Columbian coffee and the second panel shows the import demand and export supply of Columbian coffee in the international market. Figure 34.1 Refer to Figure 34.1.The autarky equilibrium price of coffee in Columbia is:

• A)$16.
• B)$8.
• C)$10.
• D)$12.
• E)$14.

---

Definitions:

Reduced

Reduced typically refers to a chemical reaction in which atoms gain electrons, or in a broader sense, the diminishment in size, amount, or intensity of something.

Acid

Substances that release hydrogen ions (H+) when dissolved in water, characterized by their sour taste and the ability to turn litmus paper red.

Oxidized

The state of a molecule that has lost electrons, often associated with a gain of oxygen or loss of hydrogen.

Reduced

In chemistry, it refers to the gain of electrons by a molecule, atom, or ion.