The following problem analyzes the Spanish market forlimes. The graph below shows the domestic supply and demand curves for limes in Spain. i-'issume that Spain's government does not currently permit international trade in limes. Use the black point (plus symbol) to denote the equilibrium once of one ton of limes and the equilibrium quantity of limes in Spain without international trade. Next, use the green triangle [' triangle symbol) to shade in the area that represents consumer surplus in equilibrium. Finally, use the purple triangle {diamond symbol) to shade in the area that represents producer surplus in equilibrium. 920 Domestic Demand Domestic Supply --I- 860 ' Equilibrium without Trade 800 no E\" 2 a; 530 ConsumerSurplus D. E g $0 0 a V g 550 ProducerSurplus E '1 500 440 330 320 o 45 so 135 130 225 2m 31s zoo 405 450 QUANTITY {Tons of limes] Based on the information from the previous graph, absent international trade total surplus is . The following graph shows the same domestic supply and demand curves for limes in Spain. Now, suppose that the Spanish government changes its stance on international trade, deciding to allow free trade in limes. The horizontal black line {Fur} represents the world price of limes at $800 per ton. The following graph shows the same domestic supply and demand curves for limes in Spain. Now, suppose that the Spanish government changes its stance on international trade, deciding to allow free trade in limes. The horizontal black line {Ply} represents the world price of limes at $800 per ton. Assume that Spain's entry into the world market for limes has no effect on the world price and there are no transportation or transaction costs associated with international trade in limes. Also assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Use the green triangle {triangle symbol) to shade in the area representing consumer surplus, and then use the purple triangle (diamond symbol) to shade in the area representing producer surplus. C?) 920 Domestic Demand Domestic Supply El 45 so 135 1st: 225 2rd 315 360 405 450 QUANTITY {Tons of limes] BEG Cons u mer Surplus 8-0 Producer Surplus BER] 680 620 560 PRICE (Dollars perlon) 500 440 330 320 when Spain adjusts its trade policy to allow free trade of limesr the price of one ton of limes in Spain becomes $800. At this price, : tons of limes will he demanded in Spain, and \\:| tons will be supplied by domestic suppliers. Therefore, Spain will export\\:| tons of limes. 920 Domestic Demand Domestic Supply 880 Consumer Surplus 800 PW 740 380 Producer Surplus 620 PRICE (Dollars per ton) 560 500 440 380 320 45 90 135 180 225 270 315 360 405 450 QUANTITY (Tons of limes) When Spain adjusts its trade policy to allow free trade of limes, the price of one ton of limes in Spain becomes $800. At this price, tons of limes will be demanded in Spain, and tons will be supplied by domestic suppliers. Therefore, Spain will export |tons of limes. Using the information from the previous tasks, complete the following table to analyze the welfare effect of allowing free trade. With Free Trade Without Free Trade (Dollars) (Dollars) Consumer Surplus Producer Surplus When Spain allows free trade, the country's producer surplus by $ and consumer surplus by .Therefore, the net effect of allowing international trade on Spain's total surplus is a - of $