Question: kawmin is a small country that produces?
Answer: Kawmin is a small country that produces and consumes jelly beans. The world price of jelly beans is $1 per bag, and Kawmin's domestic demand and supply for jelly beans are governed by the following equations: Demand: QD=8−P. , Supply: QS=P. , where P is in dollars per bag and Q is in bags of jelly beans.