(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.

Question

(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.

Quizplus · Accepted Answer

The Answer of (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.

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