Using the Graph Below, Answer the Following Questions About Dark $$\text { R22 }$$

question 3

Essay

Using the graph below, answer the following questions about dark chocolate slabs.
$$\text { R22 }$$
a. What is the equilibrium price of slabs before trade?
b. What is the equilibrium quantity of slabs before trade?
c. What is the price of slabs after trade is allowed?
d. What is the quantity of slabs 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?

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