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-(Figure: The Market for Roses) Use Figure: The Market for Roses.Assume that P_A is the autarky price and P_W is the world price.Consumer surplus without international trade would be area:

Question

Use the following to answer question:

-(Figure: The Market for Roses) Use Figure: The Market for Roses.Assume that P_A is the autarky price and P_W is the world price.Consumer surplus without international trade would be area:

Quizplus · Accepted Answer

Without international trade, the equilibrium price would be P_A and the quantity exchanged would be Q1U1B1. Consumer surplus would be the area above the equilibrium price and below the demand curve, which is represented by area W. Therefore, the answer is D.

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