3:47 AM Mon Feb 6 08%

3:47 AM Mon Feb 6 TODOU 5) The figure below describes the market in the United States for a pound of chocolate. The figure shows the domestic demand for a pound of chocolate, the domestic supply for a pound of chocolate, as well as the world price of chocolate, which is $35. $85 $45 $35 $15 Domestic Supply - World Price Domestic Demand 240 360 450 a) Under free trade, will the U.S. import or export chocolate? How many pounds will they import or export? O.ai Or ice onococcte ess domestic so U. 3 toil( c,noc.olcxte. 210 founds would be Imeomed. b) Ifthe U.S. doesn't allow consumers to import chocolate and producers to export chocolate to the rest of the world, what will be the resulting effect on consumer surplus and producer surplus? What will be the resulting deadweight loss? 5 7