Refer to the diagram to the right. Complete the following table. Consumer Surplus without trade with trade What area represents the gains from trade: Producer Surplus 26 240 22- 20 18- 16- Price, P A 14TH 120 10- 84 6 4- 24 G 0 Spome LPw Dainme 10 20 30 40 50 60 70 80 90 100 Quantity Q a G
Refer to the diagram to the right. Complete the following table. Consumer Surplus without trade with trade What area represents the gains from trade: Producer Surplus 26 240 22- 20 18- 16- Price, P A 14TH 120 10- 84 6 4- 24 G 0 Spome LPw Dainme 10 20 30 40 50 60 70 80 90 100 Quantity Q a G
Chapter24: Perfect Competition
Section: Chapter Questions
Problem 17E
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Question
![Refer to the diagram to the right. Complete the following table.
without trade
with trade
What area represents the gains from trade:
Consumer Producer
Surplus
Surplus
Cars
Price, P
A
26
244
22-
20-
18-
16-
14-
120
10-
80
6
4-
H
G
10
10 20 30
Spome
D
Pw
40 50 60 70 80 90 100
Quantity
Q
a
G](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F70a8482f-c24a-43c7-8ccd-4cb76bc2d495%2F8ecf2d2b-3f73-4196-8052-745e4a4fe4fe%2Fphh2ki_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Refer to the diagram to the right. Complete the following table.
without trade
with trade
What area represents the gains from trade:
Consumer Producer
Surplus
Surplus
Cars
Price, P
A
26
244
22-
20-
18-
16-
14-
120
10-
80
6
4-
H
G
10
10 20 30
Spome
D
Pw
40 50 60 70 80 90 100
Quantity
Q
a
G
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