Use the following figure to answer the questions : Figure 10-3 : shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market.
-In Figure 10-3,the net gain to the U.S.from trade is _____.

Question

Use the following figure to answer the questions : Figure 10-3 : shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market.

-In Figure 10-3,the net gain to the U.S.from trade is _____.

Quizplus · Accepted Answer

The net gain to the U.S. from trade is represented by the area ELK, which typically illustrates the gains from trade in economic diagrams, showing the increase in consumer and producer surplus.

Use the Following Figure to Answer the Questions : Figure