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What is the net welfare gain from trade to the economy of country 2? (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 d) 13.5 e) 18 ง C COUNTRY 1 INTERNATIONAL MARKET COUNTRY 2 P P P 15 10 225050 25 S2 20 15 S1 15 s1 -IP 10 -IP 10 5 D2 d1 0 369 1215182124 0 0 D1 225050 s2 FIP d2 0369 1215182124 Q 0 369 1215182124 Q What will be the quantity supplied by country 1 to the rest of the world at a price of $14? a) 5 b) 9 c) 12 Od) 18

What is the net welfare gain from trade to the economy of country 2? (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 d) 13.5 e) 18 ง C COUNTRY 1 INTERNATIONAL MARKET COUNTRY 2 P P P 15 10 225050 25 S2 20 15 S1 15 s1 -IP 10 -IP 10 5 D2 d1 0 369 1215182124 0 0 D1 225050 s2 FIP d2 0369 1215182124 Q 0 369 1215182124 Q What will be the quantity supplied by country 1 to the rest of the world at a price of $14? a) 5 b) 9 c) 12 Od) 18

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is the net welfare gain from trade to the economy of country 2? (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 d) 13.5 e) 18 25 20 15 10 50 P b) 9 Oc) 12 O d) 18 COUNTRY 1 s1 -IP d1 0 3 6 9 1215182124 Q P S INTERNATIONAL MARKET What will be the quantity supplied by country 1 to the rest of the world at a price of $14? O a) 5 Ĉ 25 20 15 10 5 0 0 3 6 9 1215182124 S2 S1 FIP D2 D1 Q 25 20 15 10 P COUNTRY 2 s2 EIP 5 d2 0 0 3 6 9 1215182124 Q
Transcribed Image Text:What is the net welfare gain from trade to the economy of country 2? (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 d) 13.5 e) 18 25 20 15 10 50 P b) 9 Oc) 12 O d) 18 COUNTRY 1 s1 -IP d1 0 3 6 9 1215182124 Q P S INTERNATIONAL MARKET What will be the quantity supplied by country 1 to the rest of the world at a price of $14? O a) 5 Ĉ 25 20 15 10 5 0 0 3 6 9 1215182124 S2 S1 FIP D2 D1 Q 25 20 15 10 P COUNTRY 2 s2 EIP 5 d2 0 0 3 6 9 1215182124 Q
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