Use the graph to answer the following questions about CDs. 
a.What is the equilibrium price of CDs before trade?
b.What is the equilibrium quantity of CDs before trade?
c.What is the price of CDs after trade is allowed?
d.What is the quantity of CDs exported after trade is allowed?
e.What is the amount of consumer surplus before trade?
f. What is the amount of consumer surplus after trade?
g. What is the amount of producer surplus before trade?
h. What is the amount of producer surplus after trade?
i. What is the amount of total surplus before trade?
j. What is the amount of total surplus after trade?
k. What is the change in total surplus because of trade?
Definitions:
Television
A device that receives broadcast signals and converts them into images and sound.
Radio
A technology for the transmission of audio data and signals through electromagnetic waves, enabling broadcasting to a wide audience.
Sales Promotion
Sales promotion refers to a variety of marketing strategies designed to stimulate short-term consumer demand for a product or service and encourage sales.
Persuasive Elements
Persuasive elements consist of techniques or components used in communication to influence someone's attitudes, beliefs, or actions.
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