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-(Figure: The Market for Oranges in South Africa) Use Figure: The Market for Oranges in South Africa.In autarky,the price of oranges in South Africa is P₁.When the economy is opened to trade,the price falls to P_W and the change in total surplus is area:

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-(Figure: The Market for Oranges in South Africa) Use Figure: The Market for Oranges in South Africa.In autarky,the price of oranges in South Africa is P₁.When the economy is opened to trade,the price falls to P_W and the change in total surplus is area:

Quizplus · Accepted Answer

The change in total surplus is given by the area of the triangle formed by the new equilibrium price, the quantity axis and the old equilibrium quantity, which is equal to O + P. Therefore, the correct answer is B, as the other options include areas that are not part of the change in total surplus.

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