What is the Consumer Surplus after trade? A.) $6,400 B.) $9,600 C.) $12,800 D.) 14,400 What is Consumer Surplus before trade? A.) $14,400 B.) $16,800 C.) $21,600 D.) $24,800
What is the Consumer Surplus after trade? A.) $6,400 B.) $9,600 C.) $12,800 D.) 14,400 What is Consumer Surplus before trade? A.) $14,400 B.) $16,800 C.) $21,600 D.) $24,800
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 6CQQ
Related questions
Question
What is the
A.) $6,400
B.) $9,600
C.) $12,800
D.) 14,400
What is Consumer Surplus before trade?
A.) $14,400
B.) $16,800
C.) $21,600
D.) $24,800
![Figure 9-12
84+
022800002
78
72
66
60
54
43
42
36-
30-
Price
24
18
12-
6+
$6,400.
400 800 1200 1600 2000 2400 2800
$9,600.
Domestic Supply
Refer to Figure 9-12. Consumer surplus after trade is
$12,800.
World Price
$14,400.
Domestic Demand
++▬▬▬▬▬▬▬▬▬▬▬▬
Quantity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52e9472b-1cd1-434c-8acb-a7aa9b5c01f2%2Fc93c69ff-8bc9-4fb6-ba9f-e328a5d30f6a%2Fqc0ba1l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Figure 9-12
84+
022800002
78
72
66
60
54
43
42
36-
30-
Price
24
18
12-
6+
$6,400.
400 800 1200 1600 2000 2400 2800
$9,600.
Domestic Supply
Refer to Figure 9-12. Consumer surplus after trade is
$12,800.
World Price
$14,400.
Domestic Demand
++▬▬▬▬▬▬▬▬▬▬▬▬
Quantity
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