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Use the green triangle (triangle symbol) to shade consumer surplus, and then use the purple triangle (diamond symbol) to shade producer surplus. PRICE (Dollars per
Use the green triangle (triangle symbol) to shade consumer surplus, and then use the purple triangle (diamond symbol) to shade producer surplus. PRICE (Dollars per ton) 1000 Domestic Demand Domestic Supply 900 800 700 600 500 400 300 200 100 0 15 30 45 00 75 90 105 120 135 150 QUANTITY (Tons of lemons) Consumer Surplus Producer Surplus When Bolivia allows free trade of lemons, the price of a ton of lemons in Bolivia will be $800. At this price,) be demanded in Bolivia, and tons of lemons. 30 tons of lemons will 120 tons will be supplied by domestic suppliers. Therefore, Bolivia will export [90 Using the information from the previous tasks, complete the following table to analyze the welfare effect of allowing free trade Without Free Trade (Dollars) With Free Trade: (Dollars) Consumer Surplus Producer Surplus When Bolivia allows free trade, the country's consumer surplus by and producer surplus by So, the net effect of international trade on Bolivia's total surplus is a of
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