We measure the gains and losses from imports by

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We measure the gains and losses from imports by examining their effect on consumer surplus, producer surplus, and total surplus The winners are those whose surplus increases and the losers are those who surplus decreases The quantity produced in the U.S. decreases to the quantity supplied at the world price and producer surplus shrinks Part of the gain in consumer surplus is a loss of producer surplus---a redistribution of total surplus The other part in the increase of consumer surplus is a net gain This increase in total surplus results from the lower price and increased purchases and is the gain from imports The consumer surplus and producer surplus change when the good is exported The price rises to the world price The quantity bought decreases and the quantity demanded at the world price and the consumer surplus shrinks The quantity supplied at the world price and the producer surplus expands Part of the gain of producer surplus is a loss in consumer surplus or a redistribution of the total surplus The other part of the increase in producer surplus is a net gain This increase in total surplus results from the higher price and increased production and
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We measure the gains and losses from imports by examining...

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