Question: answer The table below lists the price and quantities demanded and supplied of tons of cotton in the country of Questville. Price Cotton demand Cotton

answer

The table below lists the price and quantities demanded and supplied of tons of cotton in the country of Questville. Price Cotton demand Cotton supply 37 1535 1325 $12 1490 1350 $17 1445 1375 $22 1400 1400 $27 1355 1425 332 1310 1450 837 1265 1475 Suppose that Questville can trade with other countries without any restrictions. If the price of cotton on the world market is higher than the equilibrium price, does Questville import or export cotton? Olmport cotton OExport cotton ONeither import nor export Suppose the world price of cotton is at $27. Calculate the total amount that Questville imports or exports at that price

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