(Figure: the Import­Competing Industry) in the Figure, with Free Trade

question 52

Multiple Choice

(Figure: The Import­Competing Industry) In the figure, with free trade, if
The world price of the product is $15, then the total consumer surplus is:

• A)$1,395.
• B)$697.50.
• C)$22.50.
• D)$2,250.

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Definitions:

Consciousness

The awareness of internal and external stimuli, including the feeling of self-awareness and the possession of thought processes.

Identity

The distinguishing character or personality of an individual; one's sense of self.

Anxiety Disorder

A psychological condition marked by intense sensations of stress, nervousness, or dread that significantly disrupt an individual's everyday functions.

Ambiguous

Something that can be understood in more than one way or is not explicitly defined, leading to uncertainty or confusion.