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Question 1
The graph below shows the supply and demand curves and the world price for bagels.

What is equilibrium price if this country does not trade?

 

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Question 2

What is equilibrium quantity if this country does not trade?

 

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Question 3

What is the world price with free trade?

 

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Question 4

What is domestic quantity demanded at the world price with free trade?

 

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Question 5

What is the amount of domestic supply at the world price with free trade?

 

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Question 6

At this world price with free trade, this country will

 

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Question 7

What is the amount of the exports at the world price with free trade?

 

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Question 8

What is the size of the gains from trade at the world price?

 

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