1. With trade, Jamaica a. imports 150 calculators b. imports 250 calculators c.

Question

1. With trade, Jamaica a. imports 150 calculators b. imports 250 calculators c. exports 100 calculators d. exports 250 calculators 2. Consumer surplus in Jamaica without trade is a. $375 b. $2000 c. $2250 d. $8700 3. The change in total surplus in Jamaica because of tradeis a. $625, and this is an increase in total surplus. b. $750, and this is an increase in total surplus. c. $625, and this is a decrease in total surplus. d. $750, and this is a decrease in total surplus. 4. Which of the following statements is accurate? a. Consumer surplus with trade is $3,200. b. Producer surplus with trade is $375. c. The gains from trade amount to $800. d. The gains from trade are represented on the graph by thearea bounded by the points (0,$12), (300,$12), (300,$7), and(0,$7). PLEASE HELP, I KNOW THE QUESTION IS LONG SO ANSWER EACHQUESTION SEPERATELY SO THAT I CAN GIVE YOU A SCORE FOR EACHONE,....THANK YOU!!

Explanation / Answer

Question 2. Consumer Surplus Answer C. 2,250 Explanation Base * Height         2 (300-0) * (27-12)            2 4,500 /2 = $ 2,250.

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