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Figure 9-7

Question 251

Multiple Choice

Figure 9-7.The figure applies to the nation of Wales and the good is cheese. Figure 9-7.The figure applies to the nation of Wales and the good is cheese. -Refer to Figure 9-7.Which of the following is a valid equation for Welsh consumer surplus with trade? A) Consumer surplus with trade = (1/2) (Q<sub>0</sub>) (P<sub>1</sub> - P<sub>0</sub>) . B) Consumer surplus with trade = (1/2) (Q<sub>0</sub>) (P<sub>3</sub> - P<sub>0</sub>) . C) Consumer surplus with trade = (1/2) (Q<sub>1</sub>) (P<sub>3</sub> - P<sub>1</sub>) . D) None of the above is correct.
-Refer to Figure 9-7.Which of the following is a valid equation for Welsh consumer surplus with trade?


A) Consumer surplus with trade = (1/2) (Q0) (P1 - P0) .
B) Consumer surplus with trade = (1/2) (Q0) (P3 - P0) .
C) Consumer surplus with trade = (1/2) (Q1) (P3 - P1) .
D) None of the above is correct.

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