Multiple Choice
Refer to the accompanying graph, where Sd and Dd are the domestic supply and demand curves for a product. The world price of the product is $6. If this market were closed to international trade, the total revenue that would go to domestic producers would be
A) $600, but only $240 if the domestic market were open to international trade.
B) $600, but only $120 if the domestic market were open to international trade.
C) $500, but only $240 if the domestic market were open to international trade.
D) $240, but only $120 if the domestic market were open to international trade.
Correct Answer:

Verified
Correct Answer:
Verified
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