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Suppose that the world price of rice is 30 cents a​ pound, the United States does not trade​ internationally, and the equilibrium price of rice in the United States is 40 cents a pound. The United States
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Suppose that the world price of rice is 30 cents a​ pound, the United States does not trade​ internationally, and the equilibrium price of rice in the United States is 40 cents a pound. The United States then begins to trade internationally. The price of rice in the United States​ ______. U.S. consumers buy​ ______ rice.

User Ajay Kumar Ganesh
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Answer:

Falls; More

Step-by-step explanation:

The price of rice in the United States​ FALLS. U.S. consumers buy​ MORE rice.

User DaGaMs
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