(Figure: The Domestic Supply and Demand for Recreational Vehicles (RVs) in the United States) Use Figure: The Domestic Supply and Demand for Recreational Vehicles (RVs) in the United States. Suppose the world price equals $50,000, and there is free trade. Calculate the loss of consumer surplus.
A) $41,250 million
B) $30,000 million
C) $52,500 million
D) $22,250 million
Correct Answer:
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