22 595 25 20 15 10 O P COUNTRY 1 s1 IP d1 0 3 6 9 1215182124 INTERNATIONAL MARKET 25 20 15 10 5 P S2 S1 IP D2 0 3 6 9 12 15182124 D1 P COUNTRY 2 25 20 15 10 5 d2 0 0 3 6 9 1215182124 Q s2 EIP 10. What is the net welfare gain from trade to the economy of country 1? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height) a) 3 b) 6 c) 9
22 595 25 20 15 10 O P COUNTRY 1 s1 IP d1 0 3 6 9 1215182124 INTERNATIONAL MARKET 25 20 15 10 5 P S2 S1 IP D2 0 3 6 9 12 15182124 D1 P COUNTRY 2 25 20 15 10 5 d2 0 0 3 6 9 1215182124 Q s2 EIP 10. What is the net welfare gain from trade to the economy of country 1? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height) a) 3 b) 6 c) 9
Chapter24: Perfect Competition
Section: Chapter Questions
Problem 17E
Related questions
Question
100%
![QUESTION 10
P
COUNTRY 1
25
20
15
10
5
d1 EQ
0
0 3 6 9 1215182124
d) 13.5
e) 18
s1
FIP
INTERNATIONAL MARKET
P
25
20
15
10
5
0
0 3 6 9 1215182124
S2
-S1
IP
D2
D1
4Q
P
COUNTRY 2
25
20
15
10
5
d2
0
0 3 6 9 1215182124 Q
⠀⠀⠀
⠀⠀⠀
10. What is the net welfare gain from trade to the economy of country 1? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height)
a) 3
b) 6
9
s2
FIP](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F914a38ac-dbf0-49d9-ade0-83b3624a6a0b%2Fd21528d3-3cf5-48d3-9ed1-ce19bd3dfb90%2Fajk00xs_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 10
P
COUNTRY 1
25
20
15
10
5
d1 EQ
0
0 3 6 9 1215182124
d) 13.5
e) 18
s1
FIP
INTERNATIONAL MARKET
P
25
20
15
10
5
0
0 3 6 9 1215182124
S2
-S1
IP
D2
D1
4Q
P
COUNTRY 2
25
20
15
10
5
d2
0
0 3 6 9 1215182124 Q
⠀⠀⠀
⠀⠀⠀
10. What is the net welfare gain from trade to the economy of country 1? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height)
a) 3
b) 6
9
s2
FIP
![QUESTION 8
25
20
15
10
LO
5
P
COUNTRY 1
A+
11
s1
|⠀⠀⠀
SP
-IP
d1Q
0
0 3 6 9 1215182124
INTERNATIONAL MARKET
P
25
20
15
10
5
0
0 3 6 9 12 15182124
08. Under open trade, who will gain and who will lose in country 1?
a) consumers gain and producers lose.
b) producers gain and consumers lose.
c) both producers and consumers lose.
d) the poor lose and the rich gain.
DE
S2
⠀⠀
FIP
D2
25
20
S1 15
10
5
d2
0
0 3 6 9 1215182124 Q
D1
Q
P
COUNTRY 2
s2
IP](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F914a38ac-dbf0-49d9-ade0-83b3624a6a0b%2Fd21528d3-3cf5-48d3-9ed1-ce19bd3dfb90%2Fljh0apa_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 8
25
20
15
10
LO
5
P
COUNTRY 1
A+
11
s1
|⠀⠀⠀
SP
-IP
d1Q
0
0 3 6 9 1215182124
INTERNATIONAL MARKET
P
25
20
15
10
5
0
0 3 6 9 12 15182124
08. Under open trade, who will gain and who will lose in country 1?
a) consumers gain and producers lose.
b) producers gain and consumers lose.
c) both producers and consumers lose.
d) the poor lose and the rich gain.
DE
S2
⠀⠀
FIP
D2
25
20
S1 15
10
5
d2
0
0 3 6 9 1215182124 Q
D1
Q
P
COUNTRY 2
s2
IP
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