Use the following to answer questions:
-(Figure: The Market for Calculators) Use Figure: The Market for Calculators.Assume that S and D represent the domestic demand and supply of calculators,respectively.The world price,P_W,equals $100.When the economy moves from autarky,under which the price is $150,to free trade,consumer surplus rises by area _____ and producer surplus falls by _____.

Question

Use the following to answer questions:

-(Figure: The Market for Calculators) Use Figure: The Market for Calculators.Assume that S and D represent the domestic demand and supply of calculators,respectively.The world price,P_W,equals $100.When the economy moves from autarky,under which the price is $150,to free trade,consumer surplus rises by area _____ and producer surplus falls by _____.

Quizplus · Accepted Answer

The Answer of Use the following to answer questions: -(Figure: The Market for Calculators)Use Figure: The Market for Calculators.Assume that S and D represent the domestic demand and supply of calculators,respectively.The world price,P_W,equals $100.When the economy moves from autarky,under which the price is $150,to free trade,consumer surplus rises by area _____ and producer surplus falls by _____.

Use the Following to Answer Questions