From the left panel of Figure 4.4, derive Nation 2s supply curve of exports of commodity Y.

Question:

From the left panel of Figure 4.4, derive Nation 2’s supply curve of exports of commodity Y. From the left panel of Figure 4.3, derive Nation 1’s demand curve for Nation 2’s exports of commodity Y. Use the demand and supply curves that you derived to show how the equilibrium-relative commodity price of commodity Y with trade is determined.