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Figure 9-1 Figure 9-1 Shows the U.S. Demand and Supply for Leather

Question 70

Multiple Choice

Figure 9-1
Figure 9-1 Figure 9-1 shows the U.S. demand and supply for leather footwear. -Refer to Figure 9-1.Under autarky,the equilibrium price is ________,the consumer surplus is ________ and the producer surplus is ________. A) $30; consumer surplus = area R; producer surplus = area S + V B) $30; consumer surplus = area R + S + V; producer surplus = area T + W+ X C) $24; consumer surplus = area R + S; producer surplus = area V D) $30; consumer surplus = area R; producer surplus = area S + T + V + W + X
Figure 9-1 shows the U.S. demand and supply for leather footwear.
-Refer to Figure 9-1.Under autarky,the equilibrium price is ________,the consumer surplus is ________ and the producer surplus is ________.


A) $30; consumer surplus = area R; producer surplus = area S + V
B) $30; consumer surplus = area R + S + V; producer surplus = area T + W+ X
C) $24; consumer surplus = area R + S; producer surplus = area V
D) $30; consumer surplus = area R; producer surplus = area S + T + V + W + X

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