Draw a graph like Figure 12.3B. Initially the embargo is the one shown in this graph. Then, half of the nonembargoing countries switch and become part of the embargo. Use your graph to show how this changes the effects of the embargo. Specifically, what are the effects on the initial embargoing countries and on the target country? Does this shift make the embargo more or less likely to succeed? Why?

FGURE 12.3 Effects of an Embargo on Exy A. In the Embargoing Countries Price of embargoed goods 0 Quantity Exports to Iran Moving from free trade (F) to an embargo (E) means Embargoing countries lose Iran loses Other countries gain World as a whole loses b+c a+cb FGURE 12.3 Effects of an Embargo on Exy A. In the Embargoing Countries Price of embargoed goods 0 Quantity Exports to Iran Moving from free trade (F) to an embargo (E) means Embargoing countries lose Iran loses Other countries gain World as a whole loses b+c a+cb