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-Refer to the Diagram Above

Question 115

Multiple Choice

  -Refer to the diagram above.If this country opens up to international trade in shoes at the world price,then the price is ____________________ per pair,the quantity consumed domestically is ____________________ pairs per year,and total economic surplus is ____________________ per year. A)  $20;1500;$20,000 B)  $20;1000;$20,000 C)  $15;1250;$21,250 D)  $10;1500;$25,000 E)  $10;500;$25,000
-Refer to the diagram above.If this country opens up to international trade in shoes at the world price,then the price is ____________________ per pair,the quantity consumed domestically is ____________________ pairs per year,and total economic surplus is ____________________ per year.


A) $20;1500;$20,000
B) $20;1000;$20,000
C) $15;1250;$21,250
D) $10;1500;$25,000
E) $10;500;$25,000

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