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Figure 9-24 the Following Diagram Shows the Domestic Demand and Supply in Supply

Question 114

Multiple Choice

Figure 9-24
The following diagram shows the domestic demand and supply in a market.Assume that the world price in this market is $20 per unit. Figure 9-24 The following diagram shows the domestic demand and supply in a market.Assume that the world price in this market is $20 per unit.   -Refer to Figure 9-24.With free trade,consumer surplus is A) $400 and producer surplus is $100. B) $400 and producer surplus is $400. C) $900 and producer surplus is $100. D) $900 and producer surplus is $400.
-Refer to Figure 9-24.With free trade,consumer surplus is


A) $400 and producer surplus is $100.
B) $400 and producer surplus is $400.
C) $900 and producer surplus is $100.
D) $900 and producer surplus is $400.

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