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Question: figure 92 the domestic country is china price of pencil...

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Figure 9-2. The domestic country is China. Price of Pencil Sharpeners $24 Domesti Supply World Price 16 12 \ Domestic Demand 450 Quantity of Pencil 200 300 Sharpeners Refer to Figure 9-2. With no international trade, Producer Surplus is $1,800 the equilibrium price is $12 and the equilibrium quantity is 450 the equilibrium price is $16 and the equilibrium quantity is 450 Consumer Surplus is $1,800

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