With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
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Answer:
With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal 30 calculators increase and its consumer surplus would 30 calculators increase relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted .
