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This Graph Demonstrates the Domestic Demand and Supply for a Good,as

Question 67
Multiple Choice

This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. img According to the graph shown,if this economy were to open to trade,consumers would: A) enjoy a net gain to surplus of DEFG. B) suffer a net loss to surplus of DEFG. C) suffer a transfer of surplus to the producer of DEFG. D) experience deadweight loss of FG.

Related questions
Q 68
This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. According to the graph shown,if this economy were to open to trade,surplus would do all of the following except: A) increase overall. B) decrease for the producer. C) transfer from producer to consumer. D) create deadweight loss of CEFG.
Q 69
This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. According to the graph shown,if this economy were to open to trade,which amount of surplus would be transferred? A) Area FG would be transferred to the consumer. B) Area DE would be transferred to the consumer. C) Area DEFG would be transferred to the consumer. D) Area FG would be transferred to the producer.
Q 70
This graph demonstrates the domestic demand and supply for a good,as well as the world price for that good. According to the graph shown,if this economy were an autarky,consumers would get area: A) A in consumer surplus. B) ABC in consumer surplus. C) ABCD in consumer surplus. D) ABCDEFG in consumer surplus.
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