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Figure 9-10

Question 188

Multiple Choice

Figure 9-10.The figure applies to the nation of Australia and the good is cameras. Figure 9-10.The figure applies to the nation of Australia and the good is cameras. -Refer to Figure 9-10.The area bounded by the points (Q<sub>0</sub>,P<sub>0</sub>) ,(Q<sub>2</sub>,P<sub>1</sub>) ,and (Q<sub>1</sub>,P<sub>1</sub>) represents A) Australia's gains from trade. B) the amount by which Australia's gain in consumer surplus exceeds its loss in producer surplus due to trade. C) Australia's gain in total surplus due to trade. D) All of the above are correct.
-Refer to Figure 9-10.The area bounded by the points (Q0,P0) ,(Q2,P1) ,and (Q1,P1) represents


A) Australia's gains from trade.
B) the amount by which Australia's gain in consumer surplus exceeds its loss in producer surplus due to trade.
C) Australia's gain in total surplus due to trade.
D) All of the above are correct.

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