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

question 39

Multiple Choice

The graph shown demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good. If the economy was originally operating in autarky, after moving to free trade the overall impact on surplus would be a net:

• A)gain of areas F + G + I + J + K + L.
• B)loss of areas F + G + I + J + K + L.
• C)gain of areas F + G + J + K.
• D)loss of areas F + G + J + K.

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