Figure 9-18

question 243

Multiple Choice

Figure 9-18.On the diagram below,Q represents the quantity of peaches and P represents the price of peaches.The domestic country is Isoland.
-Refer to Figure 9-18.Suppose Isoland changes from a no-trade policy to a policy that allows international trade.If the world price of peaches is $3,then the policy change results in a

• A)$15.00 decrease in producer surplus.
• B)$45.00 increase in consumer surplus.
• C)$20.00 increase in total surplus.
• D)$12.50 increase in total surplus.

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Definitions:

Hard-sell Approach

A sales strategy that uses aggressive tactics and pressure to convince customers to buy a product or service.

Potential Problems

Issues or challenges that may arise in the future or under certain conditions.

Inductive Reasoning

A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.

Generalization

A broad statement or concept obtained by inference from specific cases.