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:
Depreciation
The accounting process of allocating the cost of tangible assets over their useful lives, reflecting wear and tear, or obsolescence.
Capital Gain/Loss
The profit or loss made from selling an asset for more or less than its purchase price.
Depreciates
The process by which an asset loses value over time, often due to wear and tear, age, or obsolescence, impacting its useful life.
Straight Line
A method of calculating depreciation of an asset which assumes equal annual depreciation over the asset's useful life.
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