How Are Gains from Trade Measured

question 19

Multiple Choice

How are gains from trade measured?

• A) by the sum of consumer and producer surplus
• B) by producer surplus
• C) by producer surplus minus consumer surplus
• D) by consumer surplus

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Definitions:

Calvin Cycle

A series of biochemical reactions that take place in the stroma of chloroplasts in photosynthetic organisms, playing a crucial role in converting carbon dioxide and other compounds into glucose.

3PG

3-phosphoglycerate, an intermediate in the glycolytic pathway and the Calvin cycle, crucial for the synthesis of glucose and other carbohydrates.

CAM Plant

A plant that utilizes Crassulacean Acid Metabolism, an adaptation allowing them to conserve water by opening stomata and admitting CO2 during the night.

Food Plants

Plants that are grown or harvested for human consumption, providing essential nutrients and calories.