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111 Domestic Demand Domestic Supply 57 World Price 33 200 360 520 QUANTITY (Tricydes) Refer to Figure 9-2. The increase in total surplus resulting from trade is O a. $7,680, since consumer surplus increases by $9,216 and producer surplus falls by $1,536. O b. $23,280, since consumer surplus increases by $34,920 and producer surplus falls by $11,640. O c. $1,920, since consumer surplus increases by $2,688 and producer surplus falls by $768. O d. $3,840, since consumer surplus increases by $10,560 and producer surplus falls by $6,720. PRICE (Dollars per tricycle)

111 Domestic Demand Domestic Supply 57 World Price 33 200 360 520 QUANTITY (Tricydes) Refer to Figure 9-2. The increase in total surplus resulting from trade is O a. $7,680, since consumer surplus increases by $9,216 and producer surplus falls by $1,536. O b. $23,280, since consumer surplus increases by $34,920 and producer surplus falls by $11,640. O c. $1,920, since consumer surplus increases by $2,688 and producer surplus falls by $768. O d. $3,840, since consumer surplus increases by $10,560 and producer surplus falls by $6,720. PRICE (Dollars per tricycle)

Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
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111 Domestic Demand Domestic Supply 57 World Price 33 200 360 520 QUANTITY (Tricydles) Refer to Figure 9-2. The increase in total surplus resulting from trade is O a. S7,680, since consumer surplus increases by $9,216 and producer surplus falls by $1,536. O b. $23,280, since consumer surplus increases by $34,920 and producer surplus falls by $11,640. OC. $1,920, since consumer surplus increases by $2,688 and producer surplus falls by $768. O d. $3,840, since consumer surplus increases by $10,560 and producer surplus falls by $6,720. FEB MacBook Al 80 F3 F4 F6 F7 PRICE (Dollars per tricycle)
Transcribed Image Text:111 Domestic Demand Domestic Supply 57 World Price 33 200 360 520 QUANTITY (Tricydles) Refer to Figure 9-2. The increase in total surplus resulting from trade is O a. S7,680, since consumer surplus increases by $9,216 and producer surplus falls by $1,536. O b. $23,280, since consumer surplus increases by $34,920 and producer surplus falls by $11,640. OC. $1,920, since consumer surplus increases by $2,688 and producer surplus falls by $768. O d. $3,840, since consumer surplus increases by $10,560 and producer surplus falls by $6,720. FEB MacBook Al 80 F3 F4 F6 F7 PRICE (Dollars per tricycle)
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