Illustrate what is cost at which good is sold

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Q. If trade is allowed, Illustrate what is cost at which good is sold, domestic quantity supplied and demanded and quantity imported or exported? Cost = 2, quantity supplied = 20 units, quantity demanded = 60 units, quantity imported = 40 units. Illustrate what area corresponds to consumer surplus if no trade is allowed? Answer: e. Illustrate what area corresponds to consumer surplus if trade is allowed? Illustrate what area corresponds to producer surplus if no trade is allowed? Illustrate what area corresponds to producer surplus if trade is allowed? Answer: h. If free trade is allowed, who gains and who loses, consumers or producers and Illustrate what area corresponds to their gain or loss? Illustrate what area corresponds to gains from trade?

Reference no: EM1367414

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