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In a country, supply for apple is given as Q = 4 + 5.P and demand is given as Q = 46 - 2P P
In a country, supply for apple is given as Q = 4 + 5.P
and demand is given as Q = 46 - 2P
P shows 100 USD per tonnes of apple.
What is the producer and consumer surplus in the case of free trade when world price is P = 4? How does it affect welfare from no-trade?
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