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The figure above represents the market for gadgets in Country H, a small country. Assume that there is free trade with the rest of the
The figure above represents the market for gadgets in Country H, a small country. Assume that there is free trade with the rest of the world (ROW). A gadget sells for $17 in the ROW, and it costs $2 to ship a gadget between Country H and the ROW. a. What is the price of a gadget in Country H? How many gadgets are produced? How many gadgets are consumed? b. What is Country H's net gain or loss from trade? Give a \$ value
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