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Consumer welfare gains from trade result from better preference satisfaction caused by more…

25 20 15 10 5 O P d1 s1 O d) $40.5 Oe) $45 SP EIP Q 0 3 6 9 1215182124 22515 20 10 P S2 S1 IP D2 0 D1 0 3 6 9 1215182124 Q 09. What is the welfare gain for consumers (increase in consumer's surplus) resulting from trade in country 2? a) $3 O b) $27 Oc) $31.5 P 25 20 15 10 5 O s2 EIP d2 0 3 6 9 1215182124 Q

25 20 15 10 5 O P d1 s1 O d) $40.5 Oe) $45 SP EIP Q 0 3 6 9 1215182124 22515 20 10 P S2 S1 IP D2 0 D1 0 3 6 9 1215182124 Q 09. What is the welfare gain for consumers (increase in consumer's surplus) resulting from trade in country 2? a) $3 O b) $27 Oc) $31.5 P 25 20 15 10 5 O s2 EIP d2 0 3 6 9 1215182124 Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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