Refer to the Figure Below to Answer the Following Question

question 19

Multiple Choice

Refer to the figure below to answer the following question. Figure 7.3.2
-Refer to Figure 7.3.2.The supply of peanuts in Canada is made up of Canadian grown peanuts and imported peanuts.Initially,Canada engages in free trade in the peanut market.Then Canada puts a quota on peanut imports.The graph shows the Canadian market for peanuts when the Canadian government puts a quota on peanut imports.The Canadian consumer surplus that is redistributed to Canadian producers is ________ and the quota creates a deadweight loss equal to ________.

• A)area B + C + D + E;zero
• B)area B + C + F;area D
• C)area B;area D + E
• D)area B;area C + E
• E)area B + C + D;area E + F

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Definitions:

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