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(Figure: the Import-Competing Industry) Suppose That, with Free Trade, the World

Question 66

Multiple Choice

(Figure: The Import-Competing Industry) Suppose that, with free trade, the world price of the product is $15. What is the value of consumer surplus? (Figure: The Import-Competing Industry) Suppose that, with free trade, the world price of the product is $15. What is the value of consumer surplus? A) $1,395. B) $697.50. C) $22.50. D) $2,250.


A) $1,395.
B) $697.50.
C) $22.50.
D) $2,250.

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