me that there are only two countries in the world, Pacifica and Atlantica. Both countries 5 and consume surfboards. The pre-trade price of surfboards in Atlantica is lower than the :le price of surfboards in Pacifica. Draw a three-graph diagram to depict the Pacifica, :a, and international markets for surfboards illustrating the pre-trade price difference. Now that free trade opens up between Pacifica and Atlantica. Depict a plausible world price in _:Ihs. Using what you have learned about consumer and producer surplus, describe what i to consumers and producers in each country as a result of the move to free trade. What i to overall economic welfare in the two countries? Be sure to label and refer to the graphs