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Figure 9-6

Question 118

Multiple Choice

Figure 9-6. The figure applies to the nation of Wales and the good is cheese.
Figure 9-6. The figure applies to the nation of Wales and the good is cheese. -Refer to Figure 9-6.Which of the following is a valid equation for Welsh consumer surplus with trade? A) Consumer surplus with trade = (1/2) (Q₀) (P₁ - P₀) . B) Consumer surplus with trade = (1/2) (Q₀) (P₃ - P₀) . C) Consumer surplus with trade = (1/2) (Q₁) (P₃ - P₁) . D) None of the above is correct.
-Refer to Figure 9-6.Which of the following is a valid equation for Welsh consumer surplus with trade?


A) Consumer surplus with trade = (1/2) (Q₀) (P₁ - P₀) .
B) Consumer surplus with trade = (1/2) (Q₀) (P₃ - P₀) .
C) Consumer surplus with trade = (1/2) (Q₁) (P₃ - P₁) .
D) None of the above is correct.

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