Use the following to answer questions 10-19: Figure: The Market for Oranges in South Africa Price of oranges Domestic supply M O . P Pw Domestic demand QT Q1 CT

Use the following to answer questions 10-19:
Figure: The Market for Oranges in South Africa
Price of
oranges
Domestic
supply
M
O . P
Pw
Domestic
demand
QT
Q1
CT
Quantity of oranges
16. (Figure: The Market for Oranges in South Africa) Look at the figure The Market for
Oranges in South Africa. In autarky, the price of oranges in South Africa is P1. When the
economy is opened to trade, the price falls to Pw. South Africa will
oranges and
the volume of trade will equal
A) import; Cr- Or
export; CT – Qr
import; Q1 – QT
D)
export; CT – Q1

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