Figure 9-14

question 218

Multiple Choice

Figure 9-14.On the diagram below,Q represents the quantity of crude oil and P represents the price of crude oil.
-Refer to Figure 9-14.A result of this country allowing international trade in crude oil is as follows:

• A)The well-being of domestic crude-oil producers is now higher in that they now sell more crude oil at a higher price per barrel.
• B)The effect on the well-being of domestic crude-oil consumers is unclear in that they now buy more crude oil,but at a higher price per barrel.
• C)The effect on the well-being of the country is unclear in that domestic producer surplus increases,while the effect on domestic consumer surplus is unclear.
• D)All of the above are correct.

---

Definitions:

Network

A group or system of interconnected people or organizations.

Informational E-mail

An email designed to convey data, facts, or knowledge about specific subjects without necessitating a direct response.

Enthusiasm

is a feeling of energetic interest in a particular subject or activity and an eagerness to be involved in it.

ALL-CAPS

Writing or printing in capital letters for emphasis or to grab attention.