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Consider the following information: Price Quantity domestically supplied Quantity domestically demanded $501,0000 $45900100 $40800200 $35700300 $30600400 $25500500 $20400600 $15300700 $10200800 $5100900 $001,000 If the world
Consider the following information:
PriceQuantity domestically suppliedQuantity domestically demanded
$501,0000
$45900100
$40800200
$35700300
$30600400
$25500500
$20400600
$15300700
$10200800
$5100900
$001,000
If the world price is $10, what is the total surplus from allowing trade and having no tariff?
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