Price of Calculators $27 (a) export 100 calculators (b) import 150 calculators (c) import 250 calculators (d) export 300 calculators 12 7 2 0 150 300 400 Domestic Supply World Price Domestic Demand Quantity of Calculators 19. Refer to the figure above which shows the domestic market for calculators in Haiti. What would Haiti do? 20. Refer to the figure above which shows the domestic market for calculators in Haiti. What is the change in total surplus in Haiti because of trade? (a) $625

Macroeconomics: Private and Public Choice (MindTap Course List)
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Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter18: Gaining From International Trade
Section: Chapter Questions
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Please help with question 20 and the reasoning on why it is $625

Price of
Calculators
(a) export 100 calculators
(b) import 150 calculators.
$27
(c) import 250 calculators.
(d) export 300 calculators
12
0
150
300 400
Domestic
Supply
World
Price
Domestic
Demand
19. Refer to the figure above which shows the domestic market for calculators in Haiti. What would Haiti
do?
Quantity of
Calculators
20. Refer to the figure above which shows the domestic market for calculators in Haiti. What is the change
in total surplus in Haiti because of trade?
(a) $625
Transcribed Image Text:Price of Calculators (a) export 100 calculators (b) import 150 calculators. $27 (c) import 250 calculators. (d) export 300 calculators 12 0 150 300 400 Domestic Supply World Price Domestic Demand 19. Refer to the figure above which shows the domestic market for calculators in Haiti. What would Haiti do? Quantity of Calculators 20. Refer to the figure above which shows the domestic market for calculators in Haiti. What is the change in total surplus in Haiti because of trade? (a) $625
20. Refer to the figure above which shows the domestic market for calculators in Haiti. What is the change
in total surplus in Haiti because of trade?
(a) $625
(b) $865
(c) $1500
(d) $2800
Transcribed Image Text:20. Refer to the figure above which shows the domestic market for calculators in Haiti. What is the change in total surplus in Haiti because of trade? (a) $625 (b) $865 (c) $1500 (d) $2800
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