1. a = 9
b = 5
c = 11
d = 25
f = 38
Refer to the market for bikes above where a = autarky domestice price and b = free trade world price. Moving from autarky to free trade, the change in total surplus = ____
2. a = 8
b = 1
c = 12
d = 28
f = 32
Refer to the market for bikes above where a = autarky domestice price and b = free trade world price. Moving from autarky to free trade, the change in consumer surplus = ______
3. a = 10
b = 4
c = 10
d = 23
f = 32
Refer to the market for bikes above where a = autarky domestice price and b = free trade world price. Moving from autarky to free trade, the change in production = _____
4. a = 7
b = 5
c = 2
d = 25
f = 40
Refer to the market for bikes above where a = autarky domestice price and b = free trade world price. Moving from autarky to free trade, domestic consumption = _____
Answer all!
P
S
a
b
1
1
D
-
-
-
:
d
f
c
Q