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:
BE
An acronym that could stand for various terms depending on context, such as "Base Excess" in blood gas analysis, indicating the excess or deficit in the amount of base in the blood.
X-Ray Images
Pictures obtained by using X-ray technology to visualize the internal structures of the body, aiding in medical diagnosis.
Screen Monitor
An electronic output device that displays information in pictorial form, usually used with computers.
Projecting
The act of extending outwards or forwards or the act of estimating or forecasting something based on current trends or data.
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