Use the Following to Answer Question

question 25

Multiple Choice

Use the following to answer question:
-(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 producer surplus will _____ to area _____.

• A)fall;N + Q
• B)fall;Q
• C)rise;M + N + O + P
• D)rise;M + N + O + P + Q

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Definitions:

Enhancements

Improvements or upgrades made to products, services, or systems to increase functionality or performance.

Alliances

Cooperative agreements that allow firms to remain independent, but cooperatively pursue strategies consistent with their individual missions.

Bill of Material

A comprehensive list of raw materials, components, and instructions required to construct, manufacture, or repair a product or service.

Assembly Drawing

A detailed diagram that shows the parts of an object and how they fit together to form the final product.