The Graph Shown Demonstrates the Domestic Demand and Supply for a Good

question 28

Multiple Choice

The graph shown demonstrates the domestic demand and supply for a good, as well as the world price for that good. If this economy were to open to trade, domestic producers would:

• A)transfer the surplus in areas D + E to consumers.
• B)transfer the surplus in areas D + E to foreign producers.
• C)lose the surplus in areas F + G to deadweight loss.
• D)lose the surplus in area F + G to foreign producers.

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