Figure 9-5

-Figure 9-5 shows the domestic market for calculators in Haiti.What is the change in total surplus in Haiti because of trade

Question

Figure 9-5
 
-Figure 9-5 shows the domestic market for calculators in Haiti.What is the change in total surplus in Haiti because of trade

Quizplus · Accepted Answer

The change in total surplus in Haiti because of trade is the difference between the consumer surplus and producer surplus with trade and the consumer surplus and producer surplus without trade. In this case, the consumer surplus with trade is $1,500 and the producer surplus with trade is $1,300. The consumer surplus without trade is $875 and the producer surplus without trade is $625. Therefore, the change in total surplus in Haiti because of trade is $1,500 + $1,300 - $875 - $625 = $625.

Figure 9-5 -Figure 9-5 Shows the Domestic Market for Calculators in Haiti.What