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Figure 9-6

Question 112

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 the gains from trade? A) Gains from trade = (1/2) (P₁ - P₀) (Q₂ - Q₁) . B) Gains from trade = (1/2) (P₁ - P₀) (Q₂ - Q₀) C) Gains from trade = (1/2) (P₁ - P₀) (Q₁ + Q₂) . D) Gains from trade = (1/2) (Q₁) (P₃ - P₁) .
-Refer to Figure 9-6.Which of the following is a valid equation for the gains from trade?


A) Gains from trade = (1/2) (P₁ - P₀) (Q₂ - Q₁) .
B) Gains from trade = (1/2) (P₁ - P₀) (Q₂ - Q₀)
C) Gains from trade = (1/2) (P₁ - P₀) (Q₁ + Q₂) .
D) Gains from trade = (1/2) (Q₁) (P₃ - P₁) .

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