Consumer surplus is the rectangular area above the demand curve and below the equilibrium price.
Correct Answer:
Verified
Q83: Free on board means that the costs
Q84: The difference between the price producers are
Q85: Domestic producers always gain from any type
Q86: The producer surplus gained from an import
Q87: As a result of a tariff, producer
Q89: If price falls, consumer surplus rises.
Q90: If price falls, producer surplus rises.
Q91: Tariffs improve the welfare of society because
Q92: When a country moves from autarky to
Q93: Tariffs tend to raise the prices consumers
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents