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Figure 9-27 The following diagram shows the domestic demand and supply curves in a market. Assume that the world price in this market is $20
Figure 9-27 The following diagram shows the domestic demand and supply curves in a market. Assume that the world price in this market is $20 per unit. 60 - 55 ...j.... 50 ..... ...... ...i.... Supply 45 ....... 40 ...i... 35 ..k... 30 -+jo 25 +... ...j.... ....i... ....... 5 Demand 200 400 600 800 1000 Refer to Figure 9-27. If the country allows free trade, how much are consumer surplus, producer surplus, and total surplus with trade?Figure 9-28 The following diagram shows the domestic demand and domestic supply curves in a market. T Price ............." Supply ...i.... ....i.... ....i... Demand 5 10 15 20 25 30 35 40 Quantity Refer to Figure 9-28. Suppose the world price in this market is $6. If the country allows free trade, how much is total surplus
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