1. Copyright©2004 South-Western 9 Application: International Trade Application: International Trade

2. Copyright©2004 South-Western Figure 1 The Equilibrium without International Trade

3. Copyright©2004 South-Western Figure 2 International Trade in an Exporting Country

4. Copyright©2004 South-Western Figure 3 How Free Trade Affects Welfare in an Exporting Country

5. Copyright©2004 South-Western Figure 4 International Trade in an Importing Country

6. Copyright©2004 South-Western Figure 5 How Free Trade Affects Welfare in an Importing Country

7. Copyright©2004 South-Western Figure 6 The Effects of a Tariff

8. Copyright©2004 South-Western Figure 7 The Effects of an Import Quota