3. Consumer surplus and producer surplus from market exchange Consider the Venezuelan market for soybeans. The following graph shows the domestic demand and domestic supply curves for soybeans in Venezuela. Suppose Venezuela's government currently does not allow the international trade in soybeans. Use the black point (plus symbol) to indicate the equilibrium price of a ton of soybeans and the equilibrium quantity of soybeans in Venezuela in the absence of international trade. Then, use the green point (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use the purple point (diamond symbol) to shade the area representing producer surplus in equilibrium. Note: Select and drag a fill area point from the palette to the graph. To fill in regions on the graph, merely drop the fill area point on the desired region. No Trade Equilibrium Consumer Surplus Producer Surplus 0 40 80 120 160 200 240 280 320 360 400 550 525 500 475 450 425 400 375 350 325 300 PRICE (Dollars per ton) QUANTITY (Thousands of tons of soybeans) Domestic Demand Domestic Supply Area: 0 Based on the previous graph, total surplus in the absence of international trade is $ million. The following graph shows