File:Effect of free trade on surplus v1.png
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Summary
| Description |
English: According to General equilibrium theory, opening trade to imports lowers the price from Pa to Pw and increases the quantity from Qa to Ct. This increases consumer surplus by X+Z, while reducing producer surplus by X. The net gain in overall welfare is therefore area Z. |
| Date | |
| Source | Own work |
| Author | Farcaster |
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 22:44, 18 August 2018 | | 883 × 737 (37 KB) | Farcaster | User created page with UploadWizard |
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