Figure: The Market for Oranges in South Africa
(Figure: The Market for Oranges in South Africa) Look at the figure The Market for Oranges in South Africa.In autarky, the price of oranges in South Africa is P₁.When the economy is opened to trade, the price falls to PW and consumer surplus will ________ to _.
A) fall; M
B) fall; M + N
C) rise; M + N + O
D) rise; M + N + O + P
Correct Answer:
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