-Refer to Above Figure

question 8

Short Answer

-Refer to above figure. In the absence of trade, what is the country's consumer surplus?

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Definitions:

Scienter

A legal term referring to the knowledge of wrongdoing, especially with intent to deceive or defraud.

Securities Exchange Act

A U.S. federal law regulating the trading of securities, such as stocks and bonds, in order to protect investors from fraudulent practices.

Fraud

A deliberate deception to secure unfair or unlawful gain.

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