Plz draw exactly each point so that i use these points to draw grapgh plz label it Pw-2.) Using the point drawing tool, indicate the quantity supplied at theworld price and label it Qg-3.) Using the point drawing tool, indicate the quantity demanded at theworld price and label it Qp4.) Using the double arrow line tool, show the amount of cotton the U.S.imports at the world price and label the line 'imports'.Carefully follow the instructions above, and only draw the requiredobjects.18-16-14-12-10-8-6-4-20-D1 2 3 4 5 6 7 8 9 10 11 12 13 14 15Millions of poundsClear allCheck a The graph to the right shows the competitive equilibrium in the domesticcotton market in autarky (no trade). Suppose the world price of cotton is$7 per pound, and assume that the United States can buy as muchimported cotton as it wants at the world price.Now suppose that the U.S. allows the free trade of cotton.1.) Using the line drawing tool, indicate the world price of cotton andlabel it Pw.2.) Using the point drawing tool, indicate the quantity supplied at theworld price and label it Qs.---30-28-26-24+22-20-18-16-14-12+10+Price ($/pound)

International trade economics is the scientific investigation of the trade-in and out of goods,…

label it Pw- 2.) Using the point drawing tool, indicate the quantity supplied at the world price and label it Qg 3.) Using the point drawing tool, indicate the quantity demanded at the world price and label it Qp- 4.) Using the double arrow line tool, show the amount of cotton the U.S. imports at the world price and label the line 'imports'. Carefully follow the instructions above, and only draw the required objects. 4 18- 16- 14- 12- 10- 8- 6- 4- 2- TITS 0- D 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Millions of pounds

label it Pw- 2.) Using the point drawing tool, indicate the quantity supplied at the world price and label it Qg 3.) Using the point drawing tool, indicate the quantity demanded at the world price and label it Qp- 4.) Using the double arrow line tool, show the amount of cotton the U.S. imports at the world price and label the line 'imports'. Carefully follow the instructions above, and only draw the required objects. 4 18- 16- 14- 12- 10- 8- 6- 4- 2- TITS 0- D 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Millions of pounds

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section9.2: The Winners And Losers From Trade

Problem 2QQ

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