Figure 6.3 represents the Iraqi computer market. Assume Iraq purchases all of its computers from the United States.
Figure 6.3 Iraqi Computer Market and Economic Sanctions
-Consider Figure 6.3.With free trade, Iraq purchases ______________ computers at a price of $______________ and realizes $______________ of consumer surplus from the availability of computers.

Question

Figure 6.3 represents the Iraqi computer market. Assume Iraq purchases all of its computers from the United States.
Figure 6.3 Iraqi Computer Market and Economic Sanctions 
-Consider Figure 6.3.With free trade, Iraq purchases ______________ computers at a price of $______________ and realizes $______________ of consumer surplus from the availability of computers.

Quizplus · Accepted Answer

Without access to Figure 6.3, the correct answer is determined by understanding the concept of consumer surplus in the context of trade. Consumer surplus is the difference between what consumers are willing to pay and what they actually pay. The specific numbers provided in the choices cannot be accurately verified without the figure, but typically, the correct answer involves calculating the area of a triangle or a trapezoid under the demand curve and above the price level in a supply and demand graph.

Figure 63 Represents the Iraqi Computer Market