Using the graph below, answer the following questions about hammers. 
a.What is the equilibrium price of hammers before trade?
b.What is the equilibrium quantity of hammers before trade?
c.What is the price of hammers after trade is allowed?
d.What is the quantity of hammers imported 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:
2,3-Bisphosphoglycerate (BPG)
A compound in red blood cells that reduces the affinity of hemoglobin for oxygen, thus facilitating oxygen release to tissues.
Pulmonary Edema
A condition characterized by the accumulation of fluid in the lungs' air sacs, often resulting in breathing difficulty.
Shunted Blood
Blood that is diverted from one area to another, often used in medical contexts where blood is redirected to bypass a blocked or damaged area of the circulatory system.
Oxygen-Hemoglobin Dissociation
The process by which oxygen molecules detach from hemoglobin within red blood cells, allowing oxygen to be released to tissues.
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