1.4. Now, Jon is in Japan, trying to get a job a a full-time translator; he wants to tran late English TV shows into Japanese and vice versa.

He notices that the wage for translator is very low. Who is the "competition" that is pushing the wage down: Does the competition come from businesses who hire the tran lator or from the other tran lators?

to pay for the ta ty burger i $8 (after all, his girlfriend is a vegetarian, so he doesn't get many opportunitie for tasty burgers).

a. How large are the potential gains from trade ifJules and Vincent agree to make thi trade?

In other word , what i the sum of producer and consumer surplu if the trade happens?

b. If the trade takes place at $4, how much producer surplus goes to Vincent? How much consumer surplus goes to Jules?

c. If the trade take place at 7, how much producer surplu goe to Vincent? How much consumer surplu goes to Jules?