Please find my answers below:

(1) When both the regions are running together, the overall objective function is the total surplus of the consumers and producers, which is maximized summing up the surplus over the two regions together.

(2) The joint model will have a single objective function of maximizing the overall surplus of all consumers and producers in both India and Nepal.

(3) It is possible to find the cost/price of trade between the two countries, as the two internal regions, as the cost/price will be calculated by the model.

(4) The reporting attributes EQ_IRE-EXP.M and EQ_IRE-IMP.M in ANSWER, and the reporting attribute EQ_IreM in VEDA-BE contain the endogenous trade prices, as derived from the dual values of the trade equations EQ_IRE.

Note that because TIMES is a partial equilibrium model, the objective is maximizing the overall surplus of consumers and producers, and not minimizing the costs. However, in special cases it is indeed equivalent to minimizing the overall system cost.

(1) When both the regions are running together, the overall objective function is the total surplus of the consumers and producers, which is maximized summing up the surplus over the two regions together.

(2) The joint model will have a single objective function of maximizing the overall surplus of all consumers and producers in both India and Nepal.

(3) It is possible to find the cost/price of trade between the two countries, as the two internal regions, as the cost/price will be calculated by the model.

(4) The reporting attributes EQ_IRE-EXP.M and EQ_IRE-IMP.M in ANSWER, and the reporting attribute EQ_IreM in VEDA-BE contain the endogenous trade prices, as derived from the dual values of the trade equations EQ_IRE.

Note that because TIMES is a partial equilibrium model, the objective is maximizing the overall surplus of consumers and producers, and not minimizing the costs. However, in special cases it is indeed equivalent to minimizing the overall system cost.