Page 1 Copyright©2004 South-Western 99Application: International TradePage 2 Copyright©2004 South-Western Figure 1 The Equilibrium without International TradePage 3 Copyright©2004 South-Western Figure 2 International Trade in an Exporting CountryPage 4 Copyright©2004 South-Western Figure 3 How Free Trade Affects Welfare in an Exporting CountryPage 5 Copyright©2004 South-Western Figure 4 International Trade in an Importing CountryPage 6 Copyright©2004 South-Western Figure 5 How Free Trade Affects Welfare in an Importing CountryPage 7 Copyright©2004 South-Western Figure 6 The Effects of a TariffPage 8 Copyright©2004 South-Western Figure 7 The Effects of an Import Quota