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Suppose the domestic supply (Q S ) and demand (Q D ) for MP3 players in the United States is represented by the following set

Suppose the domestic supply (Q^S) and demand (Q^D) for MP3 players in the United States is represented by the following set of equations:

Q^S= -25 + 10P

Q^D= 875 - 5P

The consumer surplus will _____ by _____ when the United States engages in international trade and the international price for MP3 players settles at $50.

Multiple Choice

increase; $2,625
decrease; $13,500
decrease; $7,150
increase; $6,000

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