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The Following Diagram Shows a Country Which Is a Price-

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The following diagram shows a country which is a price- taker in world trade for a particular product. It initially has a tariff on the product as shown by the vertical difference between the two world supply curves.
The following diagram shows a country which is a price- taker in world trade for a particular product. It initially has a tariff on the product as shown by the vertical difference between the two world supply curves.     If the tariff were abolished, the net efficiency gain would be areas A)  2 and 4 B)  3 C)  1 and 3 D)  1, 2, 3 and 4 If the tariff were abolished, the net efficiency gain would be areas


A) 2 and 4
B) 3
C) 1 and 3
D) 1, 2, 3 and 4

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