If the world price for good A is above the domestic price for good A without trade, then consumer surplus will __ and total economic surplus will _ with trade.

Consumer surplus can be defined as the difference between the current market price of the product and the price a consumer would be willing to pay for the product.

Producer surplus can be defined as the difference between current market price of the product and the least price that a producer would be willing accept for the product.

So if in a situation where without the trade taking place , the world price for a product is higher than the domestic price than when the trade takes place the consumer surplus would decrease and producer surplus would increase.

If the world price for good A is above the domestic price for good A without trade, then consumer surplus will ________ and total economic surplus will _______ with trade.

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If the world price for good A is above the domestic price for good A without trade, then consumer surplus will __ and total economic surplus will _ with trade.