When China's supply of clothing increases, the increase in world supply lowers the world price of clothing. -Draw an appropriate diagram to analyze how this change in the world price affects consumer surplus, producer surplus, and total surplus in a nation that imports clothing, such as the US. (1)Label the old and new world prices(2)The change in quantity demanded my customers, and (3) The change in quantity supplied by domestic producers. Make a table that shows consumer surplus, producer surplus, and total surplus at the old world price and New World price.

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