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AAEC 2305 Fundamentals of Ag Economics - page 16 / 27

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(continued)

Exports-

Supposed the economy is opened up to international trade, with the world price above the intersection of the domestic supply and demand curves.

Producers can now sell all they can produce on the world market at the higher world price (Pw).  Producers will sell to domestic consumers only at this higher price.

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