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,total surplus is
A)$500.
B)$800.
C)$1,000.
D)$1,300.

Question

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,total surplus is
A)$500. 
B)$800. 
C)$1,000. 
D)$1,300.

Quizplus · Accepted Answer

Total surplus with free trade is the sum of consumer and producer surplus, which is $1,000 according to the given options.

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