Assume Thailand is a petroleum exporter on the global market. DRAW THE PETROLEUM MARKET in Thailand before and after international trade USING A DEMAND AND SUPPLY GRAPH (DRAW A GRAPH), assuming the world price for petroleum is above the Thailand petroleum market before open for international trade. IDENTIFY AND SHOW (DRAW A GRAPH) THE CHANGE in consumer surplus, producer surplus, and total surplus seeing as Thailand is now open for international trade. Additionally, GIVE SOME EXPLANATIONS for what happened.

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Assume Thailand is a petroleum exporter on the global market. DRAW THE PETROLEUM MARKET in Thailand before and after international trade USING A DEMAND AND SUPPLY GRAPH (DRAW A GRAPH), assuming the world price for petroleum is above the Thailand petroleum market before open for international trade. IDENTIFY AND SHOW (DRAW A GRAPH) THE CHANGE in consumer surplus, producer surplus, and total surplus seeing as Thailand is now open for international trade. Additionally, GIVE SOME EXPLANATIONS for what happened.

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