The Figure Given Below Represents the Domestic Market for Wheat

question 18

Multiple Choice

The figure given below represents the domestic market for wheat in a small country. Imports of wheat are prohibited. The net loss in national well-being as a result of the subsidy is:

• A)$200 million.
• B)$300 million.
• C)$500 million.
• D)$2.2 billion.

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Definitions:

Temporal Lobe

A region of the cerebral cortex responsible for processing auditory information, as well as being involved in memory and speech.

Frontal Lobe

Part of the cerebral cortex involved in decision making, problem-solving, control of purposeful behaviors, consciousness, and emotions.

Occipital Lobe

The region of the cerebral cortex at the back of the brain, responsible for processing visual information.

Temporal Lobe

A region of the cerebral cortex responsible for processing auditory information and is also involved in memory and speech.