PART I: PARSIFAL SCHEDULING

According to the cost-based definition, dumping occurs when foreign merchandise is sold in the domestic market at “less than fair value” (i.e., price is less than average total cost). 16. a. Qs = 100, Qd = 800, Imports = 700. Consumer surplus = $160,000, producer surplus = $2500. b. Price rises by $100 and consumer surplus falls by $70,000. ................
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