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Figure 9-26 The following diagram shows the domestic demand and domestic supply curves in a market. P ...E.....i...... .... ....... Supply Ch Demand 5 10

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Figure 9-26 The following diagram shows the domestic demand and domestic supply curves in a market. P ...E.....i...... .... ....... Supply Ch Demand 5 10 15 20 25 30 35 40 45 50 55 60 Refer to Figure 9-26. Suppose the world price in this market is $7. If the country allows free trade, by how much do consumer surplus, producer surplus, and total surplus change with trade?Figure 9-28 The following diagram shows the domestic demand and domestic supply curves in a market. `Price Supply ..j-... ...j.... Demand 5 10 15 20 25 30 35 40 Quantity Refer to Figure 9-28. With no trade allowed, what are the equilibrium price and equilibrium quantity in this market

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