Instruction: Identify the consumer surplus, producer surplus and total surplus with and without trade using the given data and illustration below. Provide a short explanation (2 paragraphs at most). Analysis of trade Without trade. PD = $30,000, Q = 400 In world markets. Pw = $15,000 Under free trade. how many TVs will the country import or export? P $30,000 $15,000 Identify CS, PS, and total surplus without trade, and with trade Plasma TVs 200 400 600

Instruction: Identify the consumer surplus, producer surplus and total surplus with and without trade using the given data and illustration below. Provide a short explanation (2 paragraphs at most). Analysis of trade Without trade. PD = $30,000, Q = 400 In world markets. Pw = $15,000 Under free trade. how many TVs will the country import or export? P $30,000 $15,000 Identify CS, PS, and total surplus without trade, and with trade Plasma TVs 200 400 600

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 3CQQ

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