Without trade, in the domestic market of the United States, domestically produced plasma TVs cost $3000.00. 400 plasma TVs are demanded in the United States at the price of $3000.00. In the world market (think world price), plasma TVs cost $1500. At the price of $1500.00, the United States demands 600 plasma TVs. See the graph above and answer the questions below. Upload your answers, and include your drawings for Questions 3 and 4.

1. Without free trade, how many TVs will the United States import or export?
2. With free trade, how many TVs will the United States import or export?
3. Draw, identify, and label consumer surplus, producer surplus, and total surplus WITHOUT trade.
4. Draw, identify, and label consumer surplus, producer surplus, and total surplus WITH trade.
5. Consider your answers in Question 3 and 4 above. What got smaller, and what got bigger?