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Use the Following Figure to Answer the Questions : Figure

Question 8

Multiple Choice

Use the following figure to answer the questions : Figure 10-3 : shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market. Use the following figure to answer the questions : Figure 10-3 : shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market. -Refer to Figure 10-3.The total consumer surplus prior to trade was _____. A) P<sub>4</sub>EP<sub>3</sub> B) P<sub>4</sub>KP<sub>2</sub> C) P<sub>4</sub>ELP<sub>2</sub> D) P<sub>3</sub>EP<sub>0</sub>
-Refer to Figure 10-3.The total consumer surplus prior to trade was _____.


A) P4EP3
B) P4KP2
C) P4ELP2
D) P3EP0

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